Airline Passenger Miles Fall 1.0% in November 2013

According to the Bureau of Transportation, system revenue passenger miles were 63.4 billion in November 2013. This was a decrease of 1.0% compared to November 2012. This is the first time that airline passenger miles have contracted month-over-month since April 2013 and just the third time since October 2012. The annual rate of change grew at a slower rate for the first time in eight months. Real disposable income, a good leading indicator for passenger miles, continues to grow at a slower rate. Therefore, it is likely that SRPM will continue to grow at a slower rate. If passenger miles continue to grow more slowly, then it is likely that aerospace production will start contracting in early 2014. You can find all of data on aerospace here.