U.S. travel spending slowed growth in second quarter
Skift Take
Travel and tourism spending by consumers and suppliers in the second quarter grew a bit faster than gross domestic product, but the growth rate for travel and tourism spending fell harder than the GDP growth rate when measured against their respective increases in the first quarter.
Travel and tourism spending grew in the second quarter of 2012, and so did gross domestic product, but their growth rates slowed when compared to the first quarter.
Both did not react equally, though: The growth in travel and tourism spending decelerated much faster than the slowed growth in GDP.
Those are some of the findings in a just-released U.S. Commerce Department report on travel and tourism spending and pricing in the second quarter.
Travel and tourism spending
In the April to June quarter, according to the department's Bureau of Economic Analysis, travel and tourism spending, which totaled $1.4 t
