DETROIT, Oct. 24 /PRNewswire-FirstCall/ -- The Detroit Area Business Activity Index fell 2 points in September to 99. Except for a 1-month surge in June, the index has been trending sideways since last October. The average of the index from January through September has been 100, 5 percent below the average for all of 2006.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO )
"Judging from our index, the regional economy is not in a steep decline this year," said Dana Johnson, Chief Economist at Comerica Bank. "However, activity remains severely depressed, with our index 12 percent below the average for 2005. With the national economy likely to show anemic growth this winter and the auto companies still shedding jobs, the clear risk is that our index will move lower in the months ahead."
Comerica Incorporated (NYSE: CMA) is a financial services company strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships and helping businesses and people to be successful.
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Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGOSOURCE: Comerica Bank
CONTACT: Dana Johnson, Senior Vice President & Chief Economist of
Comerica Bank, +1-734-930-2401, +1-800-895-7708
Web site: http://www.comerica.com/
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