Fewer flying the friendly skies: The number of people flying on U.S. airlines this summer is expected to fall by 7%. The Air Transport Association of America, an airline industry trade group, says the worldwide recession will lead to 14 million fewer passengers. International travel is expected to drop by 6%, while domestic flights will have 7% fewer passengers, the ATA says. Despite the drop in passengers, planes will be near capacity, since airlines have cut seats in response to the lack of demand. And flight delays may be a problem because of an aging air traffic control system and summer storms.
Feeling better? Consumer confidence rose in early May, hitting its highest levels since September, according to a new survey released today. The Reuters/University of Michigan Surveys of Consumers said its preliminary index of confidence for May rose to 67.9 from 65.1 in April. This adds to rising expectations that the U.S. economy could be in the last stages of the recession.
