DETROIT, Jan. 12 /PRNewswire-FirstCall/ -- Comerica's National Recession Watch Index, which forecasts the likelihood of national recession occurring six to 12 months in the future, registered 17-percent probability in December.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO )
National recession is forecasted when successive Recession Watch Index readings exceed 50 percent. Comerica's National Recession Watch Index also registered 17-percent probability in November.
"Though still within the range predicting good and continued growth for 2005, November and December's readings were the least favorable outlook since July 2001," said David Littmann, chief economist at Detroit-based Comerica Bank.
Comerica Bank, Michigan's oldest and largest bank, is the lead subsidiary of Comerica Incorporated (NYSE:CMA) , a multi-state financial services provider headquartered in Detroit.
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Source: Comerica Bank
CONTACT: David L. Littmann, Senior Vice President & Chief Economist of
Comerica Bank, +1-313-222-7241 or +1-800-895-7708
Web site: http://www.comerica.com/
NOTE TO EDITORS: National Recession Watch Index graph, charting 1992- 2004, is available by contacting David Littmann.
