{"id":1004074996,"date":"2013-05-28T06:03:26","date_gmt":"2013-05-28T14:03:26","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004074996"},"modified":"2022-12-07T22:01:39","modified_gmt":"2022-12-08T06:01:39","slug":"economy-watch-memorial-day-weekend-travel-bottoms-durable-goods-orders-peak","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-memorial-day-weekend-travel-bottoms-durable-goods-orders-peak\/","title":{"rendered":"Economy Watch: Memorial Day Weekend Travel Bottoms; Durable Goods Orders Peak"},"content":{"rendered":"<p><em>By Dees Stribling, Contributing Editor<\/em><span style=\"font-size: 13px;line-height: 19px\">\u00a0<\/span><\/p>\n<p>Ahead of the holiday weekend, AAA estimated that 34.8 million Americans would travel more than 50 miles from home during the period from May 23 to May 27. That\u2019s a 0.9 percent decrease from the 35.1 million people who traveled during Memorial Day weekend (by the AAA definition) in 2012, a decline that the organization chalks up to an 8 percent drop in air travel compared with last year\u2014and the fact that the improving economy hasn\u2019t improved quite enough to spur more of the kind of discretionary spending travel represents.<\/p>\n<p>The number of U.S. travelers by car will be up a little from last year, however: 32.1 million to 32.2 million. Still, that\u2019s a lackluster forecast for businesses that depend on travelers, either directly or indirectly, especially during the summer.<\/p>\n<p>\u201cAAA is forecasting Memorial Day travel to be slightly lower this year due to an to an up-and-down economy, the impact of the end of the payroll tax holiday on working families and a 30-year low in the percentage of working age people in the workforce,\u201d AAA CEO Robert L. Darbelnet noted in a statement. \u201cAmerican travelers are experiencing fee fatigue and frustration with everything from higher fares to airport security.\u201d<\/p>\n<p>The price of gas vexed those who chose to drive over the weekend and, if current trends continue, those who driving in the summer travel season. According to AAA, the average price for a gallon of regular, which has been down lately, ticked up again: from $3.502 a month ago to $3.631 on Monday. That\u2019s roughly where the average was a year ago, at $3.645 a gallon.<\/p>\n<p>But higher gas prices weren\u2019t enough (yet) to put a dint in the majority of auto travelers\u2019 plans over the Memorial Day weekend. An AAA survey of intended travelers found that gasoline prices would have \u201cno impact\u201d on plans for 62 percent of travelers. Of the remaining 38 percent of travelers who said gas prices would impact their travel plans, 27 percent plan to economize in other areas. Eight percent are planning to take a shorter trip and 3 percent will travel by an alternate mode of transportation.<\/p>\n<p><strong>Durable Goods Orders See Uptick<\/strong><\/p>\n<p>New orders for manufactured durable goods in April saw a monthly increase of $7.2 billion or 3.3 percent, the Census Bureau said on Friday, which was more than economists expected. The increase followed a 5.9 percent March decrease. Transportation equipment led the way in durable goods orders, increasing by $5.1 billion or 8.1 percent to $67.6 billion.<\/p>\n<p>Take transportation out of the equation\u2014mostly airplanes\u2014and new orders increased 1.3 percent. Exclude defense and new orders increased 2.1 percent.<\/p>\n<p>Wall Street had a lackluster day ahead of the holiday weekend, with the indices down on Friday during most of the session, but eventually clawing back to a near breakeven. The Dow Jones Industrial Average gained a minuscule 8.6 points, or 0.06 percent. The S&amp;P 500 was down 0.06 percent, while the Nasdaq barely moved at all, losing 0.01 percent<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Less people traveled this Memorial Day weekend, an 8 percent drop in air travel compared to last year. And new orders for manufactured durable goods in April saw a monthly increase of 3.3 percent.<\/p>\n","protected":false},"author":952,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004074996","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Economy Watch: Memorial Day Weekend Travel Bottoms; Durable Goods Orders Peak - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-memorial-day-weekend-travel-bottoms-durable-goods-orders-peak\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy Watch: Memorial Day Weekend Travel Bottoms; Durable Goods Orders Peak\" \/>\n<meta property=\"og:description\" content=\"Less people traveled this Memorial Day weekend, an 8 percent drop in air travel compared to last year. 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