Michigan Tourism Gathers Speed in Fourth Quarter, Reports Comerica Bank
27 Januar 2010 - 9:22PM
PR Newswire (US)
DALLAS, Jan. 27 /PRNewswire-FirstCall/ -- Comerica Bank's Michigan
Tourism Index jumped six points in the fourth quarter of 2009, to a
level of 94. The current reading is up seven points from the
Index's cyclical low of 87, and marks the highest Index level since
the second quarter of 2008. The Index averaged 90 over the course
of 2009, down two points from the 2008 average. Third quarter
2009's reading was revised from 89 to a level of 88. (Logo:
http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO) "After
dipping slightly in the third quarter of 2009, our Index has
resumed the upward trend established over the first half of 2009,"
said Dana Johnson, Chief Economist at Comerica Bank. "Given that
the fourth quarter surge in our Index was not broad-based, it is
quite possible that the Index will pull back from its current
reading in the first quarter of 2010. As trends in personal and
business travel continue to improve, the generally upward trend
already in place should continue over the course of 2010." The
Michigan Tourism Index is a quarterly summary of six equally
weighted, seasonally adjusted travel, lodging and entertainment
data series. These series serve as a proxy for statewide tourism
activity. Comerica Incorporated (NYSE:CMA) is a financial services
company headquartered in Dallas, Texas, and strategically aligned
by three business segments: The Business Bank, The Retail Bank, and
Wealth & Institutional Management. Comerica focuses on
relationships, and helping people and businesses be successful. In
addition to Texas, Comerica Bank locations can be found in Arizona,
California, Florida and Michigan, with select businesses operating
in several other states, as well as in Canada and Mexico. Comerica
reported total assets of $59.3 billion as of December 31, 2009. To
receive this index directly to your email inbox, go to
http://www.comerica.com/econsubscribe to subscribe.
http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO
http://photoarchive.ap.org/ DATASOURCE: Comerica Bank CONTACT:
Media, Dana Johnson, Senior Vice President and Chief Economist,
+1-214-462-6839, , or Data Contact, Meaghan Derrick, Research
Assistant, +1-214-462-6815, , both of Comerica Bank Web Site:
http://www.comerica.com/
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