Archive for the 'Consumer Spending' Category

Travel and Tourism Spending Rises in the Third Quarter

Real spending (output) on travel and tourism accelerated in the third quarter of 2017, growing at an annual rate of 6.6 percent after increasing 6.0 percent (revised) in the second quarter, according to new statistics released by the Bureau of Economic Analysis.

The leading contributors to the acceleration in real spending were traveler accommodations and food and beverage services. Traveler accommodations accelerated, growing 13.5 percent in the third quarter after increasing 3.8 percent (revised) in the second quarter. Food and beverage services increased 0.6 percent after decreasing 1.4 percent (revised) in the previous quarter.

tour317_chart1

Prices for travel and tourism goods and services decreased 1.1 percent in the third quarter of 2017. This was a smaller decrease than the 3.2 percent (revised) decline in the second quarter. The decrease was largely attributable to the prices of traveler accommodations and passenger air transportation.

Employment in the travel and tourism industries decelerated, growing 1.2 percent in the third quarter of 2017 after increasing 2.1 percent (revised) in the previous quarter. Traveler accommodations was the leading contributor to the deceleration, losing approximately 800 employees in the third quarter of 2017 after adding 6,400 employees in the second quarter. Food and beverage services also contributed to the deceleration.

Due to budget constraints, BEA is discontinuing production of quarterly travel and tourism estimates. Annual estimates, published each June in BEA’s Survey of Current Business, will continue to be produced with support from the Office of Travel and Tourism Industries, International Trade Administration, U.S. Department of Commerce. For more information, read the full report.

Real Disposable Personal Income Rises in October

Personal income increased 0.4 percent in October, the samePersonal Income Chart Nov 30 increase as in September. Wages and salaries, the largest component of personal income, increased 0.3 percent in
October after increasing 0.5 percent in September.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.5 percent in October after increasing 0.4 percent in September.

Real DPI, income adjusted for taxes and inflation, increased 0.3 percent in October after showing no change in September.

Real consumer spending (PCE), spending adjusted for price changes, increased 0.1 percent in October after increasing 0.5 percent in September. Spending on durable goods decreased 0.1 percent in October after increasing 3.1 percent in September.

PCE prices increased 0.1 percent in October after increasing 0.4 percent in September. Excluding food and energy, PCE prices increased 0.2 percent in October, the same increase as in September.

Personal saving rate
Personal saving as a percent of DPI was 3.2 percent in October and 3.0 percent in September.

For more information, read the full report.

Personal Income Graph Nov 30

Consumer Spending Rises in November

Personal income was unchanged in November after increasing 0.5 percent in October.consumer-spending-chart-dec-22 Wages and salaries, the largest component of personal income, decreased 0.1 percent in November after increasing 0.5 percent in October.

Current-dollar disposable personal income (DPI), after-tax income, was unchanged in November after increasing 0.5 percent in October.

Real DPI, income adjusted for taxes and inflation, decreased 0.1 percent in November after increasing 0.2 percent in October.

Real consumer spending (PCE), spending adjusted for price changes, increased 0.1 percent in November—the same increase as in October. Spending on durable goods decreased 0.1 percent in November after increasing 1.1 percent in October.

PCE prices were unchanged in November after increasing 0.3 percent in October. Excluding food and energy, PCE prices were unchanged in November after increasing 0.1 percent in October.

Personal saving rate
Personal saving as a percent of DPI was 5.5 percent in November and 5.7 percent in October.

For more information, read the full report.

real-disposable-personal-income-dec-22

 


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