Passenger Miles Grow 2.2% in June 2013
According to the Bureau of Transportation, system revenue passenger miles were 78.5 billion in June 2013. This was an increase of 2.2% compared to June 2012. This was the sixth month-over-month increase in the last eight months. Passenger miles have grown significantly faster the last two months than at any time since March 2012. The annual rate of change has increased modestly the last two months. It appears that it will continue to accelerate in the near future. This would be positive news for aerospace industrial production. Real disposable income, a good leading indicator for passenger miles, has seen decelerating growth since December 2012. Therefore, longer term it is likely that airline passenger miles will see decelerating growth or contraction.
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