Consumers Plan to Spend More on Travel and Vacations Despite ‘Gloomy’ Sentiment

Key Points

• Consumers plan to increase spending on travel and vacations despite a drop in consumer confidence.
• The survey reveals mixed spending intentions, with more people planning to spend on travel and outdoor activities.
• Economic indicators are conflicting, with warnings of a slowdown but sustained consumer spending and low unemployment.

Summary

Despite a decline in consumer confidence, there is an increase in consumer spending on travel and vacations. The latest survey from The Conference Board highlights a mixed outlook, with more consumers planning to spend on travel and outdoor activities, contrasting with fewer planning to spend on entertainment. Although there are warnings of a potential economic slowdown, indicators such as low unemployment and sustained spending suggest resilience in the travel sector.