Forecasting for the Love Boat: Royal Caribbean Cruises in 1998(

US Demographic Estimates 1-Jul-98 1-Jul-99 1-Jul-00 1-Jul-01 1-Jul-02 1-Jul-03 1-Jul-04 1-Jul-05(all amounts in thousands)Po p ulation, All Ages 270,299 272,820 275,306 277,803 280,306 282,798 285,266 287,716Summary Ind ic a torsMedian Age.......... 35.2 35.5 35.8 36 36.2 36.4 36.5 36.7Mean Age............ 36.2 36.4 36.5 36.7 36.8 36.9 37.1 37.224 a nd und er 95,342 96,197 96,969 97,792 98,484 99,143 99,695 100,11725 to 39 61,400 60,556 59,717 58,862 58,158 57,564 57,137 57,01540 to 59 68,886 70,981 73,108 75,131 77,020 78,485 80,027 81,36760 a nd over 44,670 45,086 45,514 46,016 46,645 47,606 48,406 49,220annual growth in population 0.93% 0.91% 0.91% 0.90% 0.89% 0.87% 0.86%a ge 24 and under 0.90% 0.80% 0.85% 0.71% 0.67% 0.56% 0.42%a ge 25-39 -1.37% -1.39% -1.43% -1.20% -1.02% -0.74% -0.21%a ge 40-59 3.04% 3.00% 2.77% 2.51% 1.90% 1.96% 1.67%a ge 60 a nd over 0.93% 0.95% 1.10% 1.37% 2.06% 1.68% 1.68%Panel E: macroeconomic trends and estimates% growth in Personal% growth in CPI Consumption Recreationreal GDP (inflation) Expenditures Expenditures1980 -0.3 13.5 -0.4 -0.11981 2.3 10.3 1.2 4.01982 -2.1 6.2 1.2 2.41983 4.0 3.2 5.2 8.91984 7.0 4.3 5.2 9.51985 3.6 3.6 4.7 6.41986 3.1 1.9 4 8.01987 3.0 3.6 3.1 7.31988 3.8 4.1 3.9 8.01989 3.4 4.8 2.3 4.41990 1.2 5.4 1.7 3.41991 -0.9 4.2 -0.6 1.11992 2.7 3.0 2.8 5.31993 2.3 3.0 2.8 8.81994 3.5 2.6 3.1 8.01995 2.3 2.8 2.3 9.31996 3.5 3.0 2.5 7.71997 3.9 2.3 3.5 8.61998E 3.0 2.91999E 2.1 2.32000E 1.9 2.52001E 2.0 2.4estimates are from the 1998 Economic and Budget Outlook from theCongressional Budget Officesource: Bureau of Economic Analysis