U.S. Vehicle Miles Driven Increase Again In May

Total distance traveled by vehicles on all U.S. roads and streets were an estimated 275.1 billion miles in May, the Department of Transportation reports. This is a 2.7% increase from the 267.9 billion miles traveled in May 2014.

Miles Change

The rolling 12 month total of vehicle miles driven was 3.080 trillion miles. As noted previously, January was a milestone as it was the first month that the figure was greater than the prior peak of 3.039 trillion miles driven in November of 2007.

Miles Recent

Miles

The rolling 12 month total of vehicle miles driven per capita was 12.30k. That is down 7.0% from the June 2005 high of 13.22 thousand miles per capita.

Miles per Capita

The map from the release shows that, year over year, travel increased in all 5 U.S. regions in May.

Miles Map

U.S. Consumer Price Index Increases 0.3% In June

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% in June on a seasonally adjusted basis, as reported by the U.S. Bureau of Labor Statistics. Over the last 12 months, the all items index has increased 0.2%

The core CPI, which excludes food and energy, was up 0.2% in June and is up 1.8% year over year.

CPI Monthly

CPI Long

The All Food index grew 0.3% in June and is up 1.8% from a year ago. The All Energy index increased 1.7% and is down 15.0% from a year ago.

CPI Table

CPI COmponents

The Producer Price Index for final demand increased 0.4% in June, seasonally adjusted. The index for final demand decreased 0.7% for the 12 months ended in June.

The core PPI, which excludes food and energy, increased 0.3% and is up 0.8% from a year ago.

PPI Monthly

PPI Annual

U.S. Weekly Initial Jobless Claims At 281k

U.S. initial jobless claims for the week ending July 11 were a seasonally adjusted 281k, down from the prior week’s revised reading of 296k. Not seasonally adjusted, jobless claims for the week were 344k.

Jobless Claims

The 4-week moving average of initial jobless claims was 283k.

JC 4W

The number of unemployment insurance recipients, or continuing claims, for regular state programs was 2.215 million, down from the previous week’s revised reading of 2.327 million.

UI Recipients

The insured unemployment rate, which is the number of unemployment insurance recipients as a share of covered employment, was 1.64%, down from 1.74% the week prior.

Insured Unemployment Rate

90.63% of all U.S. jobs are covered by state unemployment insurance programs.

Covered Employment

Of the 8.298 million Americans currently unemployed, 26.69% receive unemployment insurance.

UI Recipient Share

Here jobless claims are placed in the context of the U.S. civilian noninstitutional population.

JC in context

These charts show how some important economic indicators have moved with jobless claims.

JC vs GDP

JC vs Housing Starts

JC vs Total Employment

JC vs U-3

U.S. Industrial Production Increases 0.3% In June

U.S. industrial production increased 0.3% in June after having decreased 0.2% in May.

At 105.7% of its 2007 average, total industrial production in June was only 1.5% above its level of a year earlier.

IP Change

IP Index

The output of manufacturing was unchanged in June, production at mines increased 1.0%, and output of utilities increased 1.5%.

Capacity utilization for total industry increased in June to 78.4%, less than the long-run (1972–2014) average of 80.1%.

Capacity

U.S. Manufacturing And Trade Sales Rise 0.4% In May

The combined value of U.S. distributive trade sales and manufacturers’ shipments for May, adjusted for seasonal and trading-day differences but not for price changes, was estimated at $1.324 trillion. That is down 0.4% from April and down 2.2% from a year ago.

Manufacturers’ and trade inventories were estimated at an end-of-month level of $1.798 trillion, up 0.3% from April and up 2.4% from a year ago.

Monthly Change

Annual Change

Total Monthly

Monthly Sales

The total business inventories-to-sales ratio at the end of May was 1.358, down from 1.360 in April. The May 2014 ratio was 1.297.

Ratio

U.S. Retail Sales Decrease 0.3% In June

U.S. retail and food services sales for June, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $442.0 billion.

Retail Sales

This is down 0.3% from May’s sales and up 1.4% from the same month a year ago.

Retail Sales Change

All categories of retail sales except for gas stations, building materials, and electronics & appliances have seen increases year over year.

Retail Sales Table