Real spending (output) on travel and tourism decelerated in the first quarter of 2015, increasing at an annual rate of 2.0 percent after increasing 4.9 percent (revised) in the fourth quarter of 2014. By comparison, real gross domestic product (GDP) turned down, decreasing 0.7 percent (second estimate) in the first quarter after increasing 2.2 percent.
The leading contributors to the deceleration in the first quarter were “all other transportation-related commodities” and “food services and drinking places.” “All other transportation-related commodities” decelerated, increasing 1.9 percent in the first quarter after increasing 13.3 percent in the fourth quarter. “Food services and drinking places” also decelerated, increasing 2.0 percent after increasing 8.9 percent. Partially offsetting these decelerations, “passenger air transportation” turned up, increasing 3.9 percent in the first quarter after decreasing 2.2 percent.
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