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Here's Another Sign Of Economic Recovery: Americans Are Hitting The Road Again

Joe WeisenthalDec 27, 2013, 15:46 IST

Here's another sign of economic recovery. This chart shows the year-over-year change in vehicle miles traveled in the US.

For October, total vehicle miles traveled were up over 2% from last October, representing the biggest jump since the financial crisis. (Via Calculated Risk)

FRED

The rise is probably a combination of the economic recovery and the big decline we've seen in gas prices of late.

Meanwhile, the big trend in vehicle miles traveled continues to be one of a secular plateau.

For year, total car travel only went up, but for the past several years it's moved sideways, probably due to a combination of societal shift, aging, and gas prices. Here's the long-term chart:

FRED