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July 07, 2009

The Travel Industry is Shrinking in The US

Inflation-adjusted spending on travel and tourism in the U.S. declined at an annual rate of 5.9% in the first quarter after falling 6.9% in the first quarter, the Commerce Department’s Bureau of Economic Analysis said. (In comparison, the overall economy shrank at a 5.7% rate in the first quarter and a 6.3% rate in the fourth.)

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