Real spending (output) on travel and tourism accelerated in the first quarter of 2016, increasing at an annual rate of 5.2 percent after increasing 1.5 percent (revised) in the fourth quarter of 2015. By comparison, real gross domestic product (GDP) decelerated, increasing 0.8 percent in the first quarter (second estimate) after increasing 1.4 percent in the fourth quarter of 2015.
The leading contributors to the acceleration in the first quarter were “all other transportation-related goods and services” and “passenger air transportation.” “All other transportation-related goods and services” turned up, increasing 3.4 percent after decreasing 6.9 percent in the fourth quarter of 2015. “Passenger air transportation” accelerated, increasing 24.8 percent in the first quarter after increasing 13.0 percent in the fourth quarter.
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