Note: Vehicle miles have moved sideways for over four years. And gasoline consumption has declined slightly over the same period. For a discussion of the causes, see NDD's post at the Bonddad blog this morning: Why the decline in gasoline demand doesn't mean a recession -- yet. Among other points, NDD writes: "It appears that gasoline conservation is a top priority of consumers.
On Wednesday, I wrote about the odd observation that over the past year workers' hours have decreased while consumption spending has essentially been flat. One thing I noted was that savings have increased over the same period. One ... Read Post
Note: on Existing Home sales, please see:Existing Home Sales decline in June and Existing Home Inventory increases 4.7% Year-over-Year The Department of Transportation (DOT) reported that vehicle miles driven in May were up just 0.1... Read Post
Earlier this week I noted that vehicle miles driven had declined in October. Most of the decline is probably due to high gasoline prices and the sluggish economy, but reader Dave sent me this article by Lisa Hymas: Driving has lost ... Read Post