reversing increases measured for each of the previous four months. Including American Express, BCD Travel, Carlson Wagonlit Travel, Egencia, HRG and Omega World Travel, the mega agencies' aggregate transaction increase, including refunds and exchanges, compared with a
5.6 percent decrease recorded by ARC for all agencies. Online agencies as a group again underperformed the rest, with aggregate February transactions down about 11 percent, the 12th consecutive month of shrinking volume.