Travel spending plunged in third quarter, government says

12/18/2008 | USA Today

The Commerce Department's Bureau of Economic Analysis reported that spending on travel and tourism dropped in the third quarter at an annual rate of 8.1%, the largest fall since the fourth quarter of 2001. In the second quarter of 2008, spending increased 2.8%. Spending on passenger air transportation led the decline, but spending on lodging and retail shopping by travelers were weak as well.

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