DETROIT, April 6 /PRNewswire-FirstCall/ -- The Michigan Tourism Index compiled by Detroit-based Comerica Bank increased 4 percent between third quarter 2005 and fourth quarter 2005. The fourth quarter index, at 123.8, is up 2.5 percent from a year earlier.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO )
"Michigan Tourism rebounded nicely in the fourth quarter, aided no doubt by the decline in gasoline prices from their hurricane-related peaks," according to Dana Johnson, chief economist at Comerica Bank. "The Super Bowl certainly gave Michigan tourism a nice boost in the first quarter. Over the balance of 2006, however, rebounding gasoline prices and the soft local economy will pose challenges."
% Chg. 2005Q4From 2004Q4 2005Q1 2005Q2 2005Q3 2005Q4 2005Q3 2004Q4 Tourism Index 120.8 121.8 118.0 119.0 123.8 +4.0 +2.5 Occupancy Rate 95.5 94.5 95.4 96.3 97.3 +1.0 +1.9 Airline Traffic 164.3 167.8 168.9 166.8 161.3 -3.3 -1.8 Vehicular Traffic 106.2 106.0 106.0 104.8 105.4 +0.6 -0.8 Mackinac Crossings 131.0 133.3 127.1 117.7 122.1 +3.7 -6.8 Museum 106.8 107.1 92.7 109.1 132.7 +21.6 +24.3
The Michigan Tourism Index is a quarterly summary of five seasonally adjusted travel and lodging data series which serve as a proxy for statewide tourism activity. Prior levels for the index were revised this quarter to incorporate our annual revisions to seasonal factors. The Michigan Tourism Index for 1st Quarter 2006 is scheduled to be issued by May 31, 2006.
Comerica Incorporated is a financial services company headquartered in Detroit, strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships and helping businesses and people to be successful. To receive this index directly to your email inbox, go to http://www.comerica.com/econsubscribe to subscribe.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGOPRN Photo Desk, photodesk@prnewswire.com
SOURCE: Comerica Bank
CONTACT: Dana Johnson, Senior Vice-President and Chief Economist of
Comerica Bank, +1-734-930-2401
Web site: http://www.comerica.com/
http://www.comerica.com/econsubscribe