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Michigan Tourism Shows Gains, Comerica Reports

DETROIT, Nov. 25 /PRNewswire/ -- The Michigan Tourism Index compiled by Comerica Bank averaged 121.2 in the third quarter, up 2.1 points (or 1.8 percent) from second quarter levels. Compared to third quarter 1995 activity, state tourism was up 4.9 percent.

"The 4.9 percent year-over-year advance in the tourism index is consistent with the 6.2 percent real gains exhibited by the Michigan economy overall for the same period," said David L. Littmann, senior economist with Detroit-based Comerica Bank. "For the first nine months of 1996, the Michigan Tourism Index is running 2.7 percent above the same period last year, versus 4.5 percent for the overall state economy. It therefore appears that tourism-related activity has been accelerating relative to economic activity in general," Littmann said.

"Of the six components in the index, three showed gains between the second and third quarters of 1996, and three registered advances when measured against the third quarter of 1995," Littmann noted. "Air traffic volumes and Mackinac Bridge crossings were significantly higher under either comparison."

The Economics Department of Comerica has enhanced the Michigan Tourism Index by incorporating two new data series in the index: Northern Michigan air traffic (Traverse City) and Southeast Michigan museum visits (Henry Ford Museum). The base year of the index has been shifted forward, from 1980 to 1992, and each of the six component variables is seasonally adjusted.
 Annual
 Third Quarter Average
 1996 1995 %Change 1995
 Michigan Tourism Index 121.2 115.5 4.9 118.8
 Lodging Occupancy 120.5 125.4 (3.9) 119.0
 Airline Traffic (Southern MI) 133.7 120.2 11.2 123.4
 Airline Traffic (Northern MI) 116.9 119.4 (2.1) 120.7
 Vehicular Traffic 110.2 103.4 6.6 106.6
 Mackinac Crossings 150.6 127.2 18.4 144.4
 Henry Ford Museum 95.5 97.2 (1.7) 98.4


The Michigan Tourism Index is a quarterly summary of six seasonally- adjusted travel and lodging data series which serve as a non-inflationary proxy for statewide tourism activity.

Comerica is the largest bank headquartered in Michigan.

SOURCE Comerica Bank
 -0- 11/25/96


/EDITORS' ADVISORY: Quarterly and annual data for the Michigan Tourism Index (base year 1992 = 100) is available upon request, along with a chart./

/CONTACT: David L. Littmann, Senior Economist of Comerica Bank, 313-222-7241 or 800-895-7708, or www.comerica.com/

/Comerica's press releases available through Company News On-Call by fax, 800-758-5804, extension 185650, or http://www.prnewswire.com/

(CMA)

CO: Comerica Bank ST: Michigan IN: FIN SU: ECO

SC -- DEM028 -- 3859 11/25/96 14:59 EST http://www.prnewswire.com
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Date:Nov 25, 1996
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