DETROIT, Aug. 4 /PRNewswire-FirstCall/ -- The Detroit Area Business Activity Index for June rose 7 points to a level of 114. That is unchanged from last June and the best reading since January 2005.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO )
"The Detroit regional economy revived nicely in June with six of the eight components of our index on the rise. Better weather and a healthier auto sector were the keys to the improvement," according to Dana Johnson, chief economist and senior vice president at Comerica Bank. "I expect to see a pattern of further gradual improvement over the second half of 2005."
Comerica Bank compiles the Detroit Area Business Activity Index (DABAI) monthly from eight different measures of regional activity which are seasonally adjusted, corrected for inflation, and expressed as an index, with 1996 as base year equal to 100. The Economics Department of Comerica Bank has calculated the DABAI monthly since 1957; depicting Metro-Detroit's economy over seven full swings of the U.S. business cycle.
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/
