Monday, December 5, 2016

DOT Reports September Vehicle Miles, 2.9% Above Last Year, But...

The Department of Transportation reported 265.5 Billion individual vehicle miles driven in September, which is about 2.9% above last September.  This is consistent with motor gasoline sales.  However, gasoline sales have subsequently fallen below 2015 levels.  By straightforward logic, we should see October vehicle miles decline to at/below 2015 levels when the number is reported in a month.  

Weather Forecast: Cold Starts Wednesday

This from the GFS 12/5 12Z:

Sunday, December 4, 2016

US Electricity Demand Low

We've had some mild weather, and this was a colder period last year, but the last week has turned in some low national numbers for electricity demand.  Here are the last month's daily numbers compared to 2015 (adjusted for day of the week).  Power demand, like highway miles driven, are correlated with GDP growth, and we are seeing weak results for both in the past quarter.

Saturday, December 3, 2016

Friday, December 2, 2016