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EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, Thursday, June 23, 2016 BEA 16-31 Technical: Sarah Osborne Jamie Williams 301.278.9459 301.278.9099 travelandtourism@bea.gov Media: Jeannine Aversa 301.278.9033 Jeannine.aversa@bea.gov Travel and Tourism Spending Accelerated in the First Quarter Travel and Tourism Satellite Account: First Quarter 2016 Real spending (output) on travel and tourism accelerated in the first quarter of 2016, increasing at an annual rate of 5.2 percent after increasing 1.5 percent (revised) in the fourth quarter of 2015. By comparison, real gross domestic product (GDP) decelerated, increasing 0.8 percent in the first quarter (second estimate) after increasing 1.4 percent in the fourth quarter of 2015. The leading contributors to the acceleration in the first quarter were “all other transportation-related goods and services” and “passenger air transportation.” “All other transportation-related goods and services,” which includes gasoline and automotive rental and leasing, turned up, increasing 3.4 percent after decreasing 6.9 percent in the fourth quarter of 2015. “Passenger air transportation” accelerated, increasing 24.8 percent in the first quarter after increasing 13.0 percent in the fourth quarter. Tourism Prices. Overall growth in prices for travel and tourism goods and services turned up in the first quarter of 2016, increasing 3.0 percent following a decrease of 1.3 percent (revised) in the fourth quarter of 2015. The upturn was mainly attributable to prices for “all other transportation-related goods and services” and “passenger air transportation.” The price for “all other transportation-related goods and services,” which includes gasoline, increased 3.3 percent in the first quarter after decreasing 9.1 percent in the previous quarter. The price for “passenger air transportation” turned up from a 5.9 percent decline in the fourth quarter of 2015 to 4.9 percent growth in the first quarter of 2016. Tourism Employment. Employment in the travel and tourism industries accelerated, increasing 1.5 percent in the first quarter of 2016 after increasing 1.0 percent (revised) in the fourth quarter. By comparison, overall U.S. employment increased 1.9 percent in the first quarter after increasing 2.0 percent in the fourth quarter. “Food services and drinking places” was the most significant contributor to the growth, increasing 3.0 percent in the first quarter. “Recreation and entertainment was also a significant contributor, increasing 3.4 percent. 2 Total Tourism-Related Output was $1.6 trillion in the first quarter of 2016. It consisted of $929.3 billion (58 percent) of direct tourism spending and $670.2 billion (42 percent) of indirect tourism-related spending. Total Tourism-Related Employment was 7.6 million jobs in the first quarter of 2016 and consisted of 5.4 million (71 percent) direct tourism jobs and 2.2 million (29 percent) indirect tourism-related jobs. Definitions Tourism spending. Total tourism-related spending consists of direct tourism output and indirect tourism output. Direct tourism output comprises all domestically produced goods and services purchased by travelers (for example, traveler accommodations and passenger air transportation). Indirect tourism output comprises all output required to support the production of direct tourism output (for example, toiletries for hotel guests and fuel for airplanes). Tourism employment. Total tourism-related employment consists of direct tourism employment plus indirect tourism employment. Direct tourism employment comprises all jobs where the workers are engaged in the production of direct tourism output (for example, hotel staff and airline pilots). Indirect tourism employment comprises all jobs where the workers are engaged in the production of indirect tourism output (for example, workers producing hotel toiletries and delivering fuel to airlines). 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 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 (2009) 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. * ** Next release – Travel and Tourism statistics for second quarter 2016 will be released on Wednesday September 14, 2016 at 8:30 A.M. EDT 3 Table 1.a. Percent Change in Real Tourism Output [Percent change from preceding period] Tourism Goods and Services Group All tourism goods and services 2012 1.3 2013 4.3 2014 2.8 3.1 1.4 -3.4 4.7 1.0 -0.1 2.7 -2.4 3.9 4.7 1.2 7.0 1.5 5.5 -2.8 12.8 1.4 4.2 2.6 5.0 3.2 1.3 1.3 1.3 Traveler accommodations Transportation Passenger air transportation All other transportation-related commodities Food services and drinking places Recreation, entertainment, and shopping Recreation and entertainment Shopping 2015 Q2012:IV 4.7 3.0 5.2 5.7 6.7 5.1 4.2 0.9 0.0 1.7 Q2013:I 7.6 5.1 -2.8 -5.0 -1.3 4.3 11.6 3.6 19.2 Q2013:II Q2013:III Q2013:IV 3.5 5.2 4.4 4.7 13.6 7.4 17.6 2.1 2.9 -14.1 19.5 -0.6 6.0 1.0 9.2 -1.2 5.0 -3.8 12.6 3.2 7.4 7.6 7.3 -0.6 6.1 2.3 9.1 Seasonally adjusted at annual rates Q2014:I Q2014:II Q2014:III Q2014:IV -0.5 2.9 3.1 5.5 10.7 1.2 -1.1 2.6 7.3 4.0 3.6 4.3 -3.8 2.1 -0.6 3.8 -1.2 -2.4 -0.5 -3.9 -3.6 5.9 13.3 1.7 6.8 0.1 4.2 -2.9 7.2 3.7 -2.8 8.0 4.3 -1.5 -2.1 -1.1 Q2015:I 2.0 -0.9 7.8 -0.8 13.6 7.9 4.9 3.6 6.0 Q2015:II Q2015:III Q2015:IV 8.2 4.5 1.5 6.0 3.1 3.8 2.6 1.1 -2.4 -4.3 -1.0 15.6 8.8 16.2 4.1 5.7 3.2 2.9 3.4 5.3 8.5 13.6 5.2 0.7 -0.3 -4.9 3.4 Q2016:I 5.2 -3.6 0.8 13.0 -6.9 5.5 4.4 9.0 1.2 -2.7 12.0 24.8 3.4 2.6 2.7 4.5 1.3 Source: U.S. Bureau of Economic Analysis Table 1.b. Real Tourism Output [Millions of chained (2009) dollars] Tourism Goods and Services Group All tourism goods and services 2012 728,102 2013 759,265 2014 780,518 2015 Q2012:IV 817,436 734,074 Traveler accommodations Transportation Passenger air transportation All other transportation-related commodities Food services and drinking places Recreation, entertainment, and shopping Recreation and entertainment Shopping 140,831 292,796 113,121 179,686 111,068 183,297 86,587 96,767 146,390 306,520 114,446 192,222 112,761 193,357 84,161 109,196 148,474 319,314 117,400 201,914 116,349 195,870 85,276 110,594 156,181 337,388 125,212 212,307 121,224 197,706 85,276 112,430 143,382 290,859 111,245 179,647 112,011 188,335 87,633 100,747 Q2013:I 747,667 145,030 300,305 113,255 187,088 112,603 189,676 84,355 105,339 Q2013:II Q2013:III Q2013:IV 754,115 763,658 771,853 144,823 304,731 113,546 191,249 112,258 192,025 83,535 108,502 145,978 310,246 115,657 194,653 112,090 194,888 84,009 110,889 149,728 311,139 115,326 195,900 114,091 196,791 84,746 112,055 Seasonally adjusted at annual rates Q2014:I Q2014:II Q2014:III Q2014:IV 770,790 776,236 782,235 792,765 148,293 312,770 115,143 197,745 113,760 195,583 84,648 110,945 146,942 317,306 118,795 198,564 115,638 195,652 85,532 110,141 149,505 320,211 117,945 202,403 116,875 194,905 85,088 109,835 Q2015:I 796,716 149,156 326,301 117,716 208,944 119,121 197,272 85,836 111,455 151,354 328,800 118,816 210,310 119,460 196,053 84,900 111,186 Seasonally adjusted at annual rates Q2014:I Q2014:II Q2014:III Q2014:IV 1.5 8.0 0.6 -10.1 Q2015:I -7.9 Q2015:II Q2015:III Q2015:IV 812,614 821,617 824,662 156,925 335,840 123,359 212,429 121,121 197,586 85,508 112,111 158,955 342,763 127,355 215,142 121,337 197,446 84,432 113,041 Q2016:I 835,263 157,489 343,453 131,318 211,348 122,978 199,602 86,264 113,380 156,434 353,293 138,795 213,139 123,761 200,916 87,220 113,740 Q2015:II Q2015:III Q2015:IV 1.7 0.5 -1.3 Q2016:I 3.0 Source: U.S. Bureau of Economic Analysis Table 1.c. Percent Changes in Chain-Type Price Indexes for Direct Tourism Output [Percent change from preceding period] Tourism Goods and Services Group All tourism goods and services Traveler accommodations Transportation Passenger air transportation All other transportation-related commodities Food services and drinking places Recreation, entertainment, and shopping Recreation and entertainment Shopping 2012 2.8 2013 0.5 2014 1.6 3.0 2.9 4.7 1.7 3.1 2.3 2.2 2.3 0.8 -0.3 0.2 -0.6 2.1 0.3 1.6 0.7 4.4 0.4 2.4 -0.9 2.4 1.3 1.4 1.4 2015 Q2012:IV -3.1 4.0 3.1 -9.6 -4.3 -13.0 2.8 0.8 0.6 0.5 3.1 6.5 1.7 9.6 1.5 1.6 1.8 1.5 Q2013:I -0.8 2.0 -3.1 2.0 -6.1 1.5 0.1 1.4 -1.1 Q2013:II Q2013:III Q2013:IV -3.0 3.9 0.5 2.8 -8.8 -5.9 -10.5 2.6 0.1 0.1 0.0 -1.7 7.4 6.6 8.0 2.2 2.8 2.9 2.7 Source: U.S. Bureau of Economic Analysis 4 -6.7 2.3 8.1 -1.0 1.8 1.9 1.0 2.6 13.2 -2.1 -4.4 -0.7 1.9 -0.1 2.1 -1.8 11.0 7.7 7.2 8.0 2.9 9.5 1.7 15.8 1.0 -1.5 3.4 -4.4 3.0 2.9 0.8 4.5 7.9 -15.6 -0.7 -23.8 3.6 -19.8 -2.2 -31.2 6.7 -24.2 -6.0 -34.2 2.6 7.6 0.4 13.6 -7.6 3.2 -10.9 14.0 2.5 6.9 3.0 10.0 2.7 -3.5 -7.6 -0.7 2.3 4.6 1.0 7.3 6.5 -7.8 -5.9 -9.1 2.3 2.0 0.8 2.9 5.5 4.0 4.9 3.3 2.6 -0.5 6.0 -5.1 Table 1.d. Chain-Type Price Indexes for Direct Tourism Output [Index numbers, 2005=100] Tourism Goods and Services Group All tourism goods and services Traveler accommodations Transportation Passenger air transportation All other transportation-related commodities Food services and drinking places Recreation, entertainment, and shopping Recreation and entertainment Shopping 2012 111.6 2013 112.2 2014 114.0 103.9 120.7 122.1 119.9 106.8 106.0 105.2 106.6 104.7 120.4 122.3 119.2 109.1 106.3 106.9 107.4 109.3 120.9 125.3 118.2 111.7 107.7 108.4 108.9 2015 Q2012:IV 110.5 112.6 112.7 109.3 120.0 102.8 114.8 108.6 109.0 109.4 104.3 122.2 121.6 122.6 107.7 106.7 106.1 107.1 Q2013:I 112.4 104.8 121.2 122.2 120.6 108.1 106.7 106.4 106.8 Q2013:II Q2013:III Q2013:IV 111.5 112.6 112.7 105.6 118.5 120.3 117.3 108.8 106.7 106.5 106.8 105.1 120.6 122.2 119.6 109.4 107.4 107.2 107.5 103.3 121.3 124.6 119.3 109.9 108.0 107.5 108.2 Seasonally adjusted at annual rates Q2014:I Q2014:II Q2014:III Q2014:IV 113.1 115.3 115.5 112.5 106.5 120.7 123.2 119.1 110.4 107.9 108.1 107.8 109.4 122.9 125.4 121.4 111.2 110.4 108.5 111.8 109.6 122.5 126.4 120.0 112.1 111.2 108.7 113.0 111.7 117.4 126.2 112.2 113.0 105.2 108.1 102.9 Q2015:I 110.2 113.6 109.5 124.3 101.0 113.8 107.2 108.2 106.3 Q2015:II Q2015:III Q2015:IV 110.7 110.8 110.5 111.3 110.4 120.7 104.4 114.5 109.0 109.0 108.9 112.1 109.4 118.4 104.2 115.1 110.2 109.3 110.8 113.9 107.2 116.6 101.8 115.8 110.8 109.5 111.6 Q2016:I 111.3 115.4 108.2 118.0 102.6 116.5 110.6 111.2 110.1 Source: U.S. Bureau of Economic Analysis Table 2. Direct Tourism Output [Millions of dollars] Tourism Goods and Services Group All tourism goods and services Percent change at annual rate 2012 812,762 4.11 2013 854,211 5.10 2014 892,390 4.47 2015 Q2012:IV 905,701 826,479 1.49 7.09 Traveler accommodations Transportation Passenger air transportation All other transportation-related commodities Food services and drinking places Recreation, entertainment, and shopping Recreation and entertainment Shopping 146,326 353,500 138,078 215,422 118,651 194,284 91,111 103,173 153,258 370,846 141,699 229,147 122,980 207,126 89,890 117,236 162,304 387,501 148,906 238,595 129,943 212,641 92,222 120,419 176,032 370,394 152,062 218,332 139,147 220,128 97,157 122,971 149,548 355,401 135,242 220,158 120,636 200,895 92,959 107,936 Q2013:I 840,136 6.78 152,031 364,053 138,353 225,699 121,732 202,321 89,786 112,535 Q2013:II Q2013:III Q2013:IV 840,865 859,592 869,873 0.35 9.21 4.87 152,862 360,998 136,599 224,399 122,153 204,852 88,933 115,919 153,425 374,179 141,366 232,813 122,646 209,343 90,089 119,254 154,652 377,417 143,722 233,695 125,402 212,401 91,110 121,290 Seasonally adjusted at annual rates Q2014:I Q2014:II Q2014:III Q2014:IV 872,005 895,272 903,635 891,825 0.98 11.11 3.79 -5.13 157,980 377,366 141,885 235,481 125,614 211,045 91,488 119,557 160,690 390,018 148,948 241,070 128,611 215,953 92,825 123,128 163,913 392,085 149,121 242,964 130,961 216,676 92,522 124,154 166,660 382,956 148,586 234,370 134,661 207,548 92,812 114,737 Q2015:I 877,949 -6.08 171,879 360,097 147,659 212,438 135,906 210,067 91,894 118,173 Q2015:II Q2015:III Q2015:IV Q2016:1 899,331 910,347 910,852 929,317 10.10 4.99 0.22 8.36 174,720 370,689 148,944 221,745 138,650 215,272 93,234 122,038 178,166 374,956 150,746 224,211 139,683 217,541 92,301 125,240 179,307 368,157 153,078 215,079 142,385 221,002 94,500 126,503 180,494 382,395 163,723 218,672 144,228 222,200 96,956 125,244 Source: U.S. Bureau of Economic Analysis Table 3. Total Tourism-Related Output [Millions of dollars] Tourism Goods and Services Group All tourism goods and services Percent change at annual rate Traveler accommodations Transportation Passenger air transportation All other transportation-related commodities Food services and drinking places Recreation, entertainment, and shopping Recreation and entertainment Shopping Seasonally adjusted at annual rates 2012 2013 2014 2015 Q2012:IV Q2013:I Q2013:II Q2013:III Q2013:IV Q2014:I Q2014:II Q2014:III Q2014:IV Q2015:I Q2015:II Q2015:III Q2015:IV Q2016:1 1,396,423 1,469,317 1,534,473 1,558,763 1,420,483 1,455,401 1,448,462 1,476,133 1,497,272 1,504,526 1,533,970 1,548,158 1,551,238 1,552,991 1,530,476 1,545,990 1,587,357 1,599,516 3.90 5.22 4.43 6.09 7.33 10.20 -1.89 7.86 5.85 1.95 8.06 3.75 0.80 0.45 -5.67 4.12 11.14 3.10 231,313 579,655 240,602 339,053 216,920 368,535 157,169 211,366 242,271 607,122 246,911 360,210 224,835 395,089 154,913 240,177 256,571 634,748 259,470 375,278 237,564 405,590 158,893 246,697 279,903 604,724 270,798 333,925 253,600 420,537 167,267 253,270 236,405 581,954 235,661 346,293 220,548 381,575 160,451 221,124 236,453 582,911 235,337 347,574 220,398 374,233 156,066 218,167 241,576 603,369 246,567 356,802 223,014 387,441 156,380 231,061 Source: U.S. Bureau of Economic Analysis 5 241,915 592,797 239,920 352,876 222,591 391,159 152,709 238,450 241,775 611,859 248,197 363,662 224,547 397,952 153,639 244,313 243,819 620,462 252,960 367,502 229,186 403,805 156,921 246,884 249,079 624,837 253,419 371,418 229,464 401,146 156,109 245,037 254,349 640,557 261,002 379,555 235,567 403,497 157,200 246,297 259,206 642,594 261,075 381,519 239,495 406,864 159,689 247,174 263,651 631,004 262,383 368,621 245,729 410,854 162,576 248,279 279,263 598,790 266,857 334,456 256,396 420,746 167,773 252,722 274,530 599,596 273,055 329,892 244,545 412,840 162,526 250,478 281,977 593,773 270,781 326,363 251,985 420,214 166,803 253,308 283,841 615,131 272,501 344,990 261,474 428,974 171,965 256,573 Table 4. Percent Change in Direct Tourism Employment [Percent change from preceding period] Tourism Industry Group All tourism industries Traveler accommodations Transportation Air transportation services All other transportation-related industries Food services and drinking places Recreation, entertainment, and shopping Recreation and entertainment Shopping All other industries 2012 1.3 2013 3.9 2014 0.0 2.1 1.0 0.8 1.2 2.1 -1.2 1.4 -4.3 4.1 2.2 14.3 2.1 23.4 -0.3 1.6 -4.9 9.5 6.3 1.9 0.7 1.3 0.4 -0.8 -2.2 -4.4 0.3 -0.7 2015 Q2012:IV -0.4 4.0 0.0 0.1 0.0 0.2 -0.9 -0.8 -1.1 -0.6 -0.5 1.0 2.2 1.7 2.5 3.0 11.1 7.7 15.4 9.4 Q2013:I 6.1 3.4 40.3 2.2 74.8 -4.0 -5.0 -17.9 12.7 9.0 Q2013:II Q2013:III Q2013:IV 1.9 1.9 2.9 1.9 15.8 3.3 24.5 -0.6 2.9 -5.3 12.6 6.6 1.9 9.9 1.9 15.0 -0.1 1.0 -5.1 7.8 3.3 Seasonally adjusted at annual rates Q2014:I Q2014:II Q2014:III Q2014:IV 2.4 2.1 -0.6 0.8 2.9 5.4 3.2 6.7 -0.5 -1.7 -5.1 2.0 -0.4 2.4 -8.2 0.6 -13.2 -0.5 -3.9 -4.7 -3.1 -3.9 2.1 0.7 2.3 -0.3 -1.3 -3.3 -4.2 -2.4 -2.5 -0.6 -1.9 -1.8 -2.0 -2.1 -3.0 -3.6 -2.4 -1.3 Q2015:I -0.2 0.8 -0.1 -0.9 0.3 -1.0 -0.9 -0.8 -1.1 -0.4 -0.2 7.1 -0.5 12.0 -1.5 -1.0 -1.8 -0.2 -0.6 Seasonally adjusted at annual rates Q2014:I Q2014:II Q2014:III Q2014:IV 5394.7 5386.5 5360.4 5354.4 Q2015:I 5359.0 Q2015:II Q2015:III Q2015:IV -0.7 -0.3 1.0 -0.7 -7.5 0.9 -12.3 -1.3 -0.2 -0.4 0.0 -0.1 -0.3 0.7 1.6 0.1 0.6 0.8 1.5 0.2 0.4 Q2016:I 1.5 1.0 -0.3 0.6 -0.8 2.7 1.9 3.1 0.7 1.1 0.3 -1.6 1.7 -3.7 3.0 2.1 3.4 0.9 1.6 Q2015:II Q2015:III Q2015:IV 5342.8 5346.8 5355.4 Q2016:I 5374.7 Source: U.S. Bureau of Economic Analysis Table 5. Direct Tourism Employment [Thousands] Tourism Industry Group All tourism industries 2012 5175.7 2013 5375.7 2014 5374.1 Traveler accommodations Transportation Air transportation services All other transportation-related industries Food services and drinking places Recreation, entertainment, and shopping Recreation and entertainment Shopping All other industries 1,327.9 1,030.4 439.7 590.7 1,659.7 956.8 527.3 429.5 201.0 1,357.3 1,178.1 449.1 729.1 1,654.9 971.9 501.5 470.5 213.5 1,383.4 1,186.7 455.0 731.7 1,641.0 951.0 479.2 471.8 212.1 2015 Q2012:IV 5352.0 5231.8 1384.0 1188.0 455.0 733.0 1626.0 943.0 474.0 469.0 211.0 1,336.3 1,036.9 442.0 595.0 1,674.3 978.1 536.8 441.3 206.2 Q2013:I 5309.8 1347.7 1,128.5 444.3 684.2 1,657.5 965.7 511.1 454.7 210.6 Q2013:II Q2013:III Q2013:IV 5366.5 5404.6 5423.1 1354.0 1,170.7 447.9 722.8 1,655.1 972.6 504.1 468.4 214.0 1360.3 1,198.5 450.1 748.5 1,654.7 974.9 497.6 477.3 215.8 1370.0 1,214.3 453.7 760.6 1,652.7 970.8 491.2 479.6 215.6 1378.1 1,188.5 454.4 734.1 1,650.5 961.2 485.4 475.9 213.4 1385.1 1,190.5 457.0 733.6 1,644.9 953.1 480.1 473.0 212.1 1382.9 1,184.7 454.8 729.9 1,636.3 945.9 475.7 470.2 211.4 1385.8 1,184.3 453.8 730.5 1,632.3 943.7 474.8 468.9 211.1 1385.3 1,204.7 453.2 751.5 1,626.0 941.3 472.6 468.7 210.8 1383.0 1,181.4 454.2 727.2 1,620.7 940.8 472.1 468.7 210.7 1382.1 1,183.4 456.0 727.4 1,623.3 942.8 473.9 468.9 210.9 1385.5 1,182.5 456.6 725.9 1,634.0 947.1 477.5 469.7 211.5 1,386.4 1,177.7 458.6 719.2 1,646.1 952.1 481.4 470.7 212.4 Source: U.S. Bureau of Economic Analysis Table 6. Total Tourism-Related Employment [Thousands] Tourism Industry Group All tourism industries Percent change at annual rate 2012 7,363.3 1.42 2013 7,694.8 4.50 2014 7,891.1 2.55 2015 Q2012:IV 7,596.0 7451.7 -3.74 4.40 Traveler accommodations Transportation Air transportation services All other transportation-related industries Food services and drinking places Recreation, entertainment, and shopping Recreation and entertainment Shopping All other industries 1,889.5 1,663.7 840.2 823.5 1,977.2 1,501.0 842.9 658.0 331.9 1,932.5 1,868.7 858.2 1,010.5 1,971.4 1,502.9 773.6 729.3 352.0 1,969.6 1,885.2 869.5 1,015.6 1,954.8 1,471.0 739.6 731.4 349.3 1,990.8 1,987.7 889.1 1,098.6 1,816.4 1,463.5 739.1 724.3 337.6 1,901.5 1,674.3 844.6 829.7 1,994.5 1,541.0 862.6 678.3 340.3 Q2013:I 7520.1 3.72 1,938.6 1,893.7 868.3 1,025.4 1,851.6 1,499.2 796.9 702.2 337.0 Q2013:II Q2013:III Q2013:IV 7607.1 7664.8 7695.0 4.71 3.07 1.58 1,947.6 1,958.5 875.2 1,083.3 1,848.9 1,509.6 786.1 723.5 342.4 Source: U.S. Bureau of Economic Analysis 6 1,956.8 2,001.2 879.4 1,121.8 1,848.5 1,513.1 775.9 737.1 345.2 1,970.7 2,026.5 886.5 1,140.0 1,846.3 1,506.7 765.9 740.7 344.9 Seasonally adjusted at annual rates Q2014:I Q2014:II Q2014:III Q2014:IV 7647.5 7640.9 7606.0 7600.9 -2.44 -0.35 -1.81 -0.27 1,982.4 1,988.2 887.9 1,100.3 1,843.8 1,491.8 756.8 734.9 341.5 1,992.5 1,992.4 892.9 1,099.5 1,837.5 1,479.2 748.7 730.5 339.3 1,989.3 1,982.7 888.8 1,093.9 1,827.9 1,468.0 741.8 726.2 338.2 1,993.5 1,981.6 886.8 1,094.8 1,823.5 1,464.6 740.3 724.2 337.8 Q2015:I 7619.1 0.96 1,992.7 2,011.9 885.6 1,126.3 1,816.4 1,460.8 736.9 723.9 337.3 Q2015:II Q2015:III Q2015:IV 7574.7 7583.3 7606.9 -2.31 0.46 1.25 1,989.4 1,977.5 887.5 1,090.0 1,810.6 1,460.1 736.2 723.9 337.2 1,988.1 1,981.2 891.0 1,090.2 1,813.4 1,463.1 738.9 724.2 337.5 1,993.1 1,980.2 892.2 1,088.0 1,825.3 1,469.9 744.5 725.4 338.4 Q2016:I 7624.5 0.93 1,994.3 1,973.9 896.0 1,077.9 1,838.9 1,477.6 750.7 726.9 339.8