Most Requested
bank banking bankruptcy banks bogus bonds business buy cost credit credit cards credit union credit unions debt economy employment farming Federal Reserve finance gold Government identity theft income IRS jobs lending loans marketing money mortgage mortgages real estate reserves resume rules sales savings skills small business speaking tax credit Taxes unemployment USA work-
Categories
Archives
- June 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
Home | Contact Us | News Archives | Resources
Interest Rates
- US: H15 -0.95 2012-06-28 FRB Market yield on U.S. Treasury securities at 5-year constant maturity, quoted on investment basis, inflation-indexed
- US: H15 0.15 2012-06-28 FRB Federal funds effective rate
- US: H15 0.12 2012-06-28 FRB 30-Day AA Nonfinancial Commercial Paper Interest Rate
- US: H15 0.63 2012-06-28 FRB Rate paid by fixed-rate payer on an interest rate swap with maturity of three year.
- US: H15 ND 2012-06-28 FRB 60-Day AA Nonfinancial Commercial Paper Interest Rate
Trade (FTC)
- FTC Alert: Federal Government Not Offering "Free" Money to Pay Your BillsHave you heard the federal government will pay your bills? Don't be fooled; it's a scam. […]
- FTC Alert: Federal Government Not Offering "Free" Money to Pay Your Bills
Commerce News
- Notice of multistakeholder process open meeting July 12, 2012Topics: Internet Policy Task Force Privacy Internet Policy Date: June 28, 2012 The July 12, 2012, meeting will be the first in a series of NTIA-convened multistakeholder discussions concerning mobile application transparency. Stakeholders will engage in an open, transparent, consensus-driven process to develop a code of conduct regarding mobile application […]
- Notice of multistakeholder process open meeting July 12, 2012
Small Business News
- Advocacy Request for Quotations (RFQs)Page Title: Advocacy Request for Quotations (RFQs) Page summary: The Office of Advocacy seeks researchers, to perform economic research via a request for quotations (RFQ's). These RFQ’s are for competitive contracts and are not research grants. The proposal solicitations and synopses are listed in FedBizOpps. The Office of Advocacy seeks researchers, […]
- Advocacy Request for Quotations (RFQs)
Monetary Policy
- Federal Reserve Board and Treasury Department agree that Term Asset-Backed Securities Loan Facility (TALF) requires less credit protection as it winds down
- Federal Reserve Board and Federal Open Market Committee release economic projections from the June 19-20 FOMC meeting
- Federal Reserve issues FOMC statement
Cost Estimates
- S. 3264, a bill to amend the Federal Water Pollution Control Act to reauthorize the Lake Pontchartrain Basin Restoration ProgramAs ordered reported by the Senate Committee on Environment and Public Works on June 21, 2012 read more […]
- H.R. 4367, a bill to amend the Electronic Fund Transfer Act to limit the fee disclosure requirement for an automatic teller machine to the screen of that machineAs ordered reported by the House Committee on Financial Services on June 27, 2012 read more […]
- S. 2165, United States-Israel Enhanced Security Cooperation Act of 2012As ordered reported by the Senate Committee on Foreign Relations on June 19, 2012 S. 2165 would extend programs to provide assistance to Israel and require the President to report to the Congress on aspects of our relationship with that country. CBO estimates that implementing the bill would not have a significant impact on the federal budget. Pay-as-you-go […]
- S. 3264, a bill to amend the Federal Water Pollution Control Act to reauthorize the Lake Pontchartrain Basin Restoration Program
Banking
- Banking Agencies Issue Host State Loan-to-Deposit RatiosThe Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today issued the host state loan-to-deposit ratios that the banking agencies will use to determine compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These rati […]
- Banking Agencies Issue Host State Loan-to-Deposit Ratios
Travel and Tourism Satelllite Accounts, 1st quarter 2012
TRAVEL AND TOURISM SPENDING INCREASED IN THE FIRST QUARTER OF 2012
Real spending on travel and tourism increased at an annual rate of 3.4 percent in the first quarter of 2012 after increasing 4.4 percent (revised) in the fourth quarter of 2011. By comparison, growth in real gross domestic product (GDP) increased 1.9 percent (second estimate) in the first quarter after increasing 3.0 percent in the fourth quarter. The increase in real spending on tourism primarily reflected increases in traveler accommodations and in food services and drinking places.
Overall growth in prices for travel and tourism goods and services turned up, increasing 6.0 percent in the first quarter of 2012 following a 1.7 percent (revised) decrease in the fourth quarter of 2011. The upturn in prices for travel and tourism goods and services reflected upturns in the prices for fuel related to transportation services and in the prices for traveler accommodations.
Employment in the travel and tourism industries increased 2.6 percent in the first quarter of 2012 after increasing 1.4 percent (revised) in the fourth quarter of 2011. By comparison, overall U.S. employment increased 2.1 percent in the first quarter after increasing 1.4 percent in the fourth quarter.
Real Tourism Spending. Real spending on passenger air transportation decelerated, increasing 1.8 percent in the first quarter of 2012 after increasing 3.2 percent in the fourth quarter of 2011. Real spending on traveler accommodations also decelerated, increasing 4.8 percent in the first quarter after increasing 7.4 percent in the fourth quarter. Business spending on traveler accommodations increased while leisure spending remained flat.
Tourism Prices. Prices for passenger air transportation accelerated, increasing 11.9 percent in the first quarter of 2012 after increasing 6.5 percent in the fourth quarter of 2011. Airlines continued to increase fares in the first quarter to cover the accelerating fuel costs. Prices for traveler accommodations turned up, increasing 6.3 percent in the first quarter after decreasing 8.3 percent in the fourth quarter.
Tourism Employment. Employment in the travel and tourism industries increased 2.6 percent in the first quarter of 2012 after increasing 1.4 percent in the fourth quarter of 2011. All industries saw increases in employment. The largest growth was in recreation and entertainment, which increased 4.3 percent in the first quarter after increasing 0.9 percent in the fourth quarter.
Total Tourism-Related Spending in the U.S. includes the goods and services that are purchased directly by tourists and also a portion of the goods and services produced by the supply chain that supports tourism activity; for example, a linen supply firm whose payroll, and other costs, are supported by travelers.
In the first quarter of 2012, total current-dollar tourism-related spending was $1.4 trillion and consisted of $848.6 billion (59 percent) of direct tourism spending — goods and services sold directly to visitors — and $577.9 billion (41 percent) of indirect tourism-related spending — goods and services used to produce what visitors buy.
Total Tourism-Related Employment was 7.6 million in the first quarter of 2012 and consisted of 5.4 million (71 percent) direct tourism jobs — jobs where workers produce goods and services sold directly to visitors — and 2.2 million (29 percent) indirect tourism-related jobs — jobs where workers produce goods and services used to produce what visitors buy.
Definitions
Tourism spending. Tourism spending comprises all goods and services purchased by tourists (defined as people who travel for any reason). In the following tables, tourism spending is referred to as direct tourism output.
Indirect tourism-related spending. Indirect tourism-related spending comprises all output used as inputs in the process of producing direct tourism output (e.g., toiletries for hotel guests and the plastic used to produce souvenir key chains).
Total tourism-related spending. Total tourism-related spending is the sum of direct tourism spending and indirect tourism-related spending.
Direct tourism employment. Direct tourism employment comprises all jobs where the workers are engaged in the production of direct tourism output (such as hotel staff, airline pilots, and souvenir sellers).
Indirect tourism-related employment. Indirect tourism-related employment comprises all jobs where the workers are engaged in the production of indirect tourism-related output (e.g., employees of companies that produce toiletries for hotel guests and the plastic used to produce souvenir key chains).
Total tourism-related employment. Total tourism-related employment is the sum of direct tourism employment and indirect tourism-related employment.
These statistics are from BEA’s Travel and Tourism Satellite Accounts (TTSAs), which are supported by funding from the Office of Travel and Tourism Industries, International Trade Administration, U.S. Department of Commerce. The current-price statistics of direct tourism output were derived from BEA’s annual TTSAs and from current-price quarterly statistics of personal consumption expenditures from the National Income and Product Accounts (NIPAs). The real statistics of direct tourism output were developed using price indexes from the Bureau of Labor Statistics (BLS) and real quarterly statistics of personal consumption expenditures from the NIPAs. The statistics of direct tourism employment were derived from the annual TTSAs (revised in June 2012) from BEA, the Quarterly Census of Employment and Wages (QCEW), and Current Employment Statistics (CES) from BLS.
Quarterly statistics are seasonally adjusted and expressed at annual rates, unless otherwise specified. Percent changes are calculated from unrounded data and annualized. Real values are in chained (2005) dollars. Price indexes are Fisher chain-type measures. Growth in overall U.S. employment is calculated using BLS total nonfarm employment from Current Employment Statistics, www.bls.gov/ces/home.htm#data.
These statistics reflect the annual TTSA revision released in the June 2012 Survey of Current Business. The annual TTSA revision incorporated revised Input-Output (IO) tables for 2003 through 2009 and the preliminary IO table for 2010. The IO revision integrated source data that were more complete and more detailed than those previously available. Additionally, these estimates reflect unique travel and tourism-specific source data available on an annual basis only.
* * *
Next release – Travel and Tourism statistics for second quarter 2012 will be released on Wednesday, September 19, 2012 at 8:30 A.M. EDT.
BEA’s national, international, regional, and industry statistics; the Survey of Current Business; and BEA news releases are available without charge on BEA’s Web site at www.bea.gov. By visiting the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements.