Real spending (output) on travel and tourism accelerated in the second quarter of 2017, growing at an annual rate of 4.9 percent after increasing 4.4 percent (revised) in the first quarter, according to new statistics released by the Bureau of Economic Analysis.
The leading contributors to the acceleration in real spending were passenger air transportation and all other transportation-related commodities. Passenger air transportation accelerated, growing 19.2 percent after increasing 5.4 percent (revised) in the first quarter. All other transportation-related services also accelerated, growing 3.2 percent after increasing 1.1 percent (revised) in the first quarter of 2017.
Prices for travel and tourism goods and services turned down in the second quarter of 2017, decreasing 3.2 percent following growth of 2.6 percent (revised) in the first quarter.
Employment in the travel and tourism industries decelerated in the second quarter, increasing 1.6 percent after increasing 2.4 percent (revised) in the first quarter.
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