Thursday, September 18, 2014

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[IWS] BEA: TRAVEL AND TOURISM SATELLITE ACCOUNTS 2ND QTR [18 September 2014]

IWS Documented News Service

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Institute for Workplace Studies-----------------Professor Samuel B. Bacharach

School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies

Cornell University

16 East 34th Street, 4th floor--------------------Stuart Basefsky

New York, NY 10016 -------------------------------Director, IWS News Bureau

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This service is supported, in part, by donations. Please consider making a donation by following the instructions at http://www.ilr.cornell.edu/iws/news-bureau/support.html

 

TRAVEL AND TOURISM SATELLITE ACCOUNTS 2ND QTR [18 September 2014]

TRAVEL AND TOURISM SPENDING TURNED UP IN THE SECOND QUARTER OF 2014

http://www.bea.gov/newsreleases/industry/tourism/2014/tour214.htm

or

http://www.bea.gov/newsreleases/industry/tourism/2014/pdf/tour214.pdf

[full-text, 6 pages]

or

http://www.bea.gov/newsreleases/industry/tourism/2014/xls/tour214.xls

[spreadsheet]

 

Real spending on travel and tourism turned up in the second quarter of 2014, increasing at an annual rate of 2.1 percent after decreasing 1.1 percent (revised) in the first quarter of 2014. Real gross domestic product (GDP) also experienced an upturn, increasing 4.2 percent (second estimate) in the second quarter after decreasing 2.1 percent in the first quarter. All major categories, with the exception of “traveler accommodations” contributed to the increase in the second quarter.

 

The leading contributors to the upturn in the second quarter were “recreation, entertainment, and shopping,” and “food services and drinking places.” “Recreation, entertainment, and shopping” increased 4.5 percent in the second quarter after decreasing 2.7 percent in the first quarter. “Food services and drinking places” increased 6.5 percent after decreasing 1.8 percent. “Transportation” increased as well, reflecting an upturn in “passenger air transportation” that was partly offset by a downturn in “all other transportation-related commodities.” Partially offsetting these upturns, “traveler accommodations” decreased 0.8 percent in the second quarter after increasing 0.6 percent.

 

AND MUCH MORE...including TABLES....

 

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