DETROIT, Aug. 24 /PRNewswire-FirstCall/ -- Tourism activity in Michigan decreased 7 points between first quarter 2005 and second quarter 2005, according to the Michigan Tourism Index compiled by Detroit-based Comerica Bank. The second quarter index, at 122.8, is up 6 percent from a year earlier.
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"High gas prices, unseasonably cool May weather, and the struggling local economy all helped to undercut tourism last quarter in Michigan," according to Dana Johnson, chief economist at Comerica Bank. "Based mostly on more normal weather, I expect to see some bounce back in our index when we have all the data in for the current quarter."
The Michigan Tourism Index is a quarterly summary of five seasonally- adjusted travel and lodging data series which serve as a non-inflationary proxy for statewide tourism activity.
Comerica Bank, the largest bank in Michigan, is a subsidiary of Comerica Incorporated (NYSE: CMA). Headquartered in Detroit, Comerica is strategically aligned by the Business Bank, Small Business Banking & Personal Financial Services, and Wealth & Institutional Management. Comerica focuses on relationships, and helping businesses and people be successful. Comerica reported total assets of $54.7 billion at June 30, 2005.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGOSOURCE: Comerica Bank
Web site: http://www.comerica.com/
