DETROIT, Aug. 14 /PRNewswire-FirstCall/ -- The Michigan Tourism Index compiled by Detroit-based Comerica Bank decreased 0.4 percent between first quarter 2006 and second quarter 2006. The second quarter index, at 118.8, is up 0.4 percent from a year earlier.
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"The broad picture is that our Tourism index has been moving sideways for almost three years," said Dana Johnson, chief economist at Comerica Bank. "The stagnant local economy, declining payrolls, and weak growth in personal income have created a relentless headwind that has prevented the state from participating in the national uptrend in spending on tourism."
%Chg. 2006 Q2 From
2005Q2 2005Q3 2005Q4 2006Q1 2006Q2 2006Q1 2005Q2
Tourism Index 118.3 118.7 124.1 119.3 118.8 -0.4 +0.4
Occupancy Rate 95.8 96.1 97.4 98.9 96.1 -2.8 +0.3
Airline Traffic 168.3 166.6 162.2 164.1 163.0 -0.7 -3.1
Vehicular Traffic 106.5 104.8 105.7 108.3 107.6 -0.6 +1.0
Mackinac Crossings 127.1 117.9 123.3 128.6 125.3 -2.6 -1.4
Museum 93.6 108.0 132.1 96.4 102.0 +5.8 +9.0
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.
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.
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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/
