US DOC Bureau of Economic Analysis reports (preliminarily) that US GDP grew at an annual rate of 2.3% in 1Q2018, following a growth of 2.9% in 4Q2017.
Growth is attributed to a combination of:
- Nonresidential fixed investment
- Personal consumption
- Exports
- Inventory investment
- Federal, state and local government spending
Imports increased, with negative impact on GDP.
The Personal Consumption Expenditures (PCE) Price Index increased by 2.7% (2.5% excluding food and energy).
Real Disposable Personal Income increased by 3.4%, vs. 1.1% in 4Q2017.
So: as the summer 2018 vacation season rapidly approaches, Americans have dollars burning holes in their pockets. If your tourism marketing/advertising needs a last-minute tune-up, do it now!
