Current State of the Economy There has been encouraging news on the economic front in the past month, but TIME magazine says we are in the midst of a "two-faced recovery."
Labor According to economists, the latest employment report was “unremarkable.” The U.S. economy added 175,000 jobs in May, according to the Bureau of Labor Statistics.
Consumer Confidence and Spending Consumer confidence appears to be on the mend, regaining the traction it lost due to the fiscal cliff, payroll-tax hike and sequester.
Travel Performance According to the Summary of Commentary on Current Economic Conditions by the Federal Reserve, "The Boston District reported increased tourism revenues but noted that attendance at museums and attractions was down, perhaps due to weather affecting leisure travel plans."
Leisure Travel Several new surveys show promising indicators for future leisure travel, and most travel industry executives and analysts are optimistic, especially those in the luxury and resort sectors.
Business Travel travelhorizons suggests that things may be getting better soon as business travel intentions seem to have turned the corner.
Meetings The corporate and meetings-related business travel sector has been recovering more slowly than leisure travel.
Air Travel According to the International Air Transport Association (IATA), global passenger traffic rose 3.2 percent and capacity was up 4.4 percent in April over the prior year with emerging markets continuing to lead growth.
Lodging Industry Looking at the hotel sector, many speakers at the NYU International Hospitality Industry Investment Conference were quite bullish, expressing confidence in underlying hotel industry fundamentals.
International Travel According to the U.S. Department of Commerce, 67 million international visitors traveled to the U.S. in 2012, a seven percent increase over 2011.
Exports According to the U.S. Department of Commerce, the trade deficit increased by $3.2 billion in April to $40.3 billion, as the $2.2 billion rise in total exports was offset by a greater $5.4 billion surge in imports from March.
Policy U.S. Travel applauded the Senate Judiciary Committee's passage of S. 744, the Border Security, Economic Opportunity and Immigration Modernization Act that includes a variety of travel-facilitation provisions.