The following chart from reader Tim Wallace shows three-month usage for February, March, and April compared to the same three months in prior years.

click on chart for sharper image

Tim writes….

Hello Mish

Next month there may be a slight leveling off between 2011 and 2012 – still well down but less of a slope. Looking further ahead, I expect to see almost a flat line or slight downturn towards the end of the summer as the year-on-year comparisons get easier to beat.

Regardless, as you can see the trend remains, with nothing good to see.


Mike “Mish” Shedlock
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