Travel sector records fastest output decline in July
Inflationary pressures continued to impact spending on goods and services
The transport sector, airlines and rail operators, saw the sharpest fall in spending activity, due to air travel disruption and rail strikes, according to the latest Lloyds Bank UK Sector Tracker report.
It also impacted tourism and recreation, with the second highest decline in July, due to an ‘unwinding of post-pandemic pent-up demand and increases in the cost of living,’ it said.
Nine of 14 sectors monitored saw output decline.
“Inflation is currently dampening activity and demand across the economy. This includes a consumer-led slowdown reflecting the fall in real incomes,” Jeavon Lolay, head of economics and market insight at Lloyds Bank corporate and institutional banking, said.
However, nearly all sectors reported a slower rise in input prices in July.
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.

































Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers
TAP Air Portugal to operate 29 flights due to strike on December 11
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Airbnb eyes a loyalty program but details remain under wraps