State of the Travel Industry 2017, Video

Current State of the Economy
While contradictions abound, there are several key statistics that point to continued improvements in the U.S. economy in the months ahead. First, the tightening labor market is finally putting upward pressure on wages. Average hourly private sector earnings posted their fastest 12-month growth in October since mid-2009. This pickup in earnings should provide a solid foundation for consumer spending, which accounted for 69 percent of the economy through the first three quarters of 2016, in the near term. Second, exports have begun to show some signs of growth in recent months, and while the fundamentals of the global situation do not support a return to an export-led recovery, the fact that U.S. exports are once again growing is good news. These positive fundamentals should keep the economy moving forward in the short term and, if sustained, lead to a more broad-based expansion. More