We’re well into the fall season and seven months into the pandemic, but still continue to see business activity disrupted in the U.S. given the uncertainties surrounding COVID-19. The severity of the disruption varies by region and industry. Many leaders are monitoring multiple leading indicators of business activity as they make key decisions surrounding how to work forward.
Our latest Mileage Trends Flash Report zooms in on business mileage trends from the country’s largest retained pool of drivers to provide a current view of economic growth and recovery. Here’s a closer look at key findings from our October 22nd report:
- Average business mileage across the U.S. has increased to 65% of pre-pandemic levels. Regionally, the Western U.S. is trending at about 67% of pre-pandemic levels, business mileage in the South and Midwest has grown to 66% of pre-pandemic levels and Northeast mileage activity has grown to 60% of pre-pandemic levels.
- While activity levels vary from region to region, there is a wide variance among industry sectors and their many subsectors. Mileage trended upward rapidly in most industries in May and June – most likely due to widespread reopening efforts and pent-up demand. Recent months have seen more volatility in mileage in different industry sectors—illustrating how business activity trends differ depending on where and how companies operate, for instance:
- Food & Beverage (79% of pre-pandemic levels)
- Construction & Building Materials (73% of pre-pandemic levels)
- Machinery (63% of pre-pandemic levels)
- Business Services (60%)
- Hospitals & Healthcare (60% of pre-pandemic levels)
- Pharmaceutical/Biotech & Medical Devices (56% of pre-pandemic levels)
- Retail (55% of pre-pandemic levels)
- Energy & Environmental (45% of pre-pandemic levels)
- Automotive (45% of pre-pandemic levels)
- Manufacturing (44% of pre-pandemic levels)
As business leaders seek a balanced approach to bringing driving activity back up to pre-COVID levels while avoiding unnecessary risk for their employees, we hope these flash reports provide useful benchmarks of field activity and business trend indicators. While we monitor trend fluctuations that have recently plateaued, we will continue sharing updates on a monthly basis. We look forward to sharing the next Mileage Trends Flash Report in mid-November.
For businesses that would like further guidance or to talk through what this data means for you, we’re here to help. Please don’t hesitate to reach out!