🔶 Another sign of weakening consumer spending:
US travel spending declined by 1.1% year-over-year through mid-August, according to Bank of America.
Travel spending per household has also been below total spending since the beginning of this year.
US consumers' travel demand has pulled back due to record-high levels of debt and elevated prices.
Meanwhile, visits to top Airlines, Cruise Lines, and Accommodation brands' websites are down ~5% YoY.
Travel demand is slowing.
