DETROIT, Feb. 7 /PRNewswire/ -- The Michigan Tourism Index compiled by Detroit-based Comerica Bank increased 5 percent between the third and fourth quarters of 2006. The fourth quarter index, at 121.6, was down 1.3 percent from a year earlier.
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"Mild weather and lower gasoline prices probably contributed to the fourth quarter rebound in our tourism index," said Dana Johnson, Chief Economist at Comerica Bank. "With the local economy still struggling to overcome the restructuring in the auto manufacturing sector, tourism is not likely to show consistent strength over the course of 2007."
%Chg. 2006Q4
From
2005Q4 2006Q1 2006Q2 2006Q3 2006Q4 2006Q3 2005Q4
Tourism Index 123.2 119.3 118.6 115.7 121.6 5.1 -1.3
Occupancy Rate 97.6 99.1 96.0 96.8 94.9 -2.2 -2.8
Airline
Traffic 161.8 164.1 162.4 159.0 165.8 +4.3 +2.5
Vehicular
Traffic 105.8 108.3 106.6 98.9 101.3 +2.5 -4.3
Mackinac
Crossings 123.2 127.3 124.3 113.5 123.3 +8.6 0.0
Museum 127.7 97.5 103.8 110.1 122.8 11.6 -3.9
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/
