Amex: Business Travel Dropped Less Than Feared, But Then Fell Again

"The number of travel bookings over the past four months has reduced in the United States, but not as much as we thought," American Express global travel services president Charles Petruccelli said Thursday. "It's better than expected. At the end of April we are feeling fairly good about our current performance in the U.S., which is positive. But there is a further slowdown happening in May."