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US recovery encourages road travel

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US recovery encourages road travel

Five years ago, when the recession was still in full swing, many were forced to make do without simple pleasures – like taking a vacation trip with the family by car. Now, as things have been better over the past two years, the momentum swings back.

According to AAA, the largest US motoring organization, around 34.8 million people have a 50 miles or more trip planned for the five days ending July 6, when the nation celebrates the national day on July 4.

The recovery is a good sign for gas stations, hotels and tourist attractions alike – just as the auto industry recovery – among the nation’s biggest economy drivers – has spurred analysts to raise the level on consumer confidence and spending.

The Federal Reserve said road travel is “fairly strong across most of the country in recent weeks. The Boston, New York, Richmond, Atlanta, Minneapolis Districts reported increasingly robust tourism activity, and Philadelphia noted slight growth; Dallas also observed a pickup in passenger airline demand.”

The bad weather for the last couple of winters was also to blame in road trips and vacation spending decreasing in the first quarter of each year, but this year the summer quarter is expected to compensate for the late start – as around 88% of US residents have been forecast to plan a vacation this year.

Via Bloomberg

by Aurel Niculescu (my Google+) - Thursday, July 3rd, 2014 - filed under News, Other. Image credit: .
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