Posts Tagged 'Bureau of Economic Analysis'

Travel and Tourism Spending Decelerated in the Third Quarter of 2014

Real spending on travel and tourism decelerated in the third quarter of 2014, increasing at an annual rate of 1.3 percent after increasing 3.3 percent (revised) in the second quarter. Real gross domestic product (GDP) also decelerated, increasing 3.9 percent (second estimate) in the third quarter after increasing 4.6 percent.

The leading contributors to the deceleration in the third quarter were “passenger air transportation,” and “recreation and entertainment.” “Passenger air transportation” turned down, decreasing 7.2 percent in the third quarter after increasing 11.1 percent in the second quarter. “Recreation and entertainment” also turned down, decreasing 5.5 percent after increasing 4.1 percent. Partially offsetting these downturns, “traveler accommodations” turned up, increasing 8.3 percent in the third quarter after decreasing 0.9 percent.

Real Tourism Spending Dec18

Third Quarter 2014 State Personal Income Statistics to be Released Dec. 19

Preliminary statistics on people’s incomes by state in the third quarter of 2014 will be released Friday, Dec. 19 by the U.S. Bureau of Economic Analysis (BEA).

These state personal income statistics will provide BEA’s first look at state economies for the July-September quarter of 2014 and serve as a basis for government and business decision making. For example:

  • Federal government agencies use state personal income statistics to allocate funds and determine matching grants to states. The statistics are also used in forecasting models to project energy and water use.
  • State governments use the statistics to project tax revenues and demand for public services.
  • Academic regional economists use the statistics for applied research.
  • Businesses, trade associations, and labor organization use the statistics for market research.

As part of this report, BEA will release revised statistics for the first two quarters of 2014.