The Federal Highway Administration (FHA) reported recently that "travel on all roads and streets" in the U.S. increased by 2.3% in May compared to May 2011. That was the largest monthly gain in motor vehicle travel since a 2.8% increase in November 2009, two and-a-half years ago (see chart above). On a year-to-date basis, traffic volume through May this year is 1.2% higher than the same period last year.
The May gain in monthly traffic volume was widespread geographically across all five regions of the country, with especially strong increases of 3% in the "North Central" and "South Gulf" regions. Additionally, the FHA reported that its "moving 12-month total of vehicle miles traveled" increased by 5 billion miles in May, which was the largest monthly improvement in that measure of traffic volume since August 2007.
MP: The strong increase in May traffic volume over last year, along with the year-to-date improvement over last year and the strong gain in the 12-month total of miles traveled, provide some additional evidence of a economy growing moderately, with no danger yet of being on the front edge of another recession.
The May gain in monthly traffic volume was widespread geographically across all five regions of the country, with especially strong increases of 3% in the "North Central" and "South Gulf" regions. Additionally, the FHA reported that its "moving 12-month total of vehicle miles traveled" increased by 5 billion miles in May, which was the largest monthly improvement in that measure of traffic volume since August 2007.
MP: The strong increase in May traffic volume over last year, along with the year-to-date improvement over last year and the strong gain in the 12-month total of miles traveled, provide some additional evidence of a economy growing moderately, with no danger yet of being on the front edge of another recession.
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