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MICHIGAN TOURISM SLIPS

 MICHIGAN TOURISM SLIPS
 DETROIT, Oct. 26 /PRNewswire/ -- The Michigan Tourism Index (MTI)


slipped 5.6 points between the first and second quarters of 1992. The decline reflects somewhat disappointing vehicular traffic and Mackinac Bridge crossings, along with hotel/motel occupancy rates, adjusted for seasonal variation. The second quarter MTI was 150.0, down from 155.6 in the first quarter.
 Year-over-year comparisons, however, remain favorable, according to David L. Littmann, first vice president and senior economist at Comerica Bank in Detroit, who compiles the MTI each quarter. "For the June quarter, the MTI was up a full point over the prior year. The first half of 1992 shows 1.6 percent stronger tourism-related activity than the comparable period last year." Littmann predicted that as the national economic recovery continues, there will be further rebuilding of confidence within the household sector, leading to improved year-to- year tourism comparisons as well. Littmann also contrasted the performance of the MTI in the 1991-92 period with the recovery period nearly a decade earlier. "After four or five quarters of recovery from the 1982 recession, Michigan-based tourism was up 6-10 percent from the trough. In contrast, the current MTI is up only 1-2 percent from last year's trough."
 The third quarter MTI release is now scheduled for the third week in November.
 ANNUAL
 SECOND QUARTER PERCENT AVERAGE
 1992 1991 CHANGE 1991
 MTI 150.0 149.1 0.7 149.8
 Occupancy rate
 at lodgings 78.0 88.4 (11.7) 84.8
 Airline traffic 225.2 219.1 2.8 224.8
 Vehicular traffic 139.2 131.2 6.0 131.3
 Mackinac Bridge crossings 157.7 157.5 0.2 158.3
 The MTI is a quarterly summary compiled by Comerica Bank of four seasonally adjusted travel and lodging data series, which serve as a noninflationary proxy for statewide tourism activity.
 -0- 10/26/92
 /CONTACT: David L. Littmann, first vice president and senior economist, Comerica Bank, 313-222-7241/
 (CMA) CO: Comerica Bank ST: Michigan IN: FIN SU: ECO


SM-ML -- DE031 -- 4986 10/26/92 16:00 EST
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Date:Oct 26, 1992
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