DETROIT, Nov. 21 /PRNewswire-FirstCall/ -- The Detroit Area Business Activity Index fell 1 point in October to 98. 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 October has been 100, 5 percent below the average for all of 2006.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO )
"With national economic growth clearly slowing and car sales likely to be weak, the main risk is that the Detroit regional economy will suffer renewed declines this winter," said Dana Johnson, Chief Economist at Comerica Bank. "The new auto contracts and past restructuring efforts create the potential for a brighter future for the regional economy. However, cyclical weakness in the national economy will likely delay the hoped-for rebound in the metro area."
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, +1-214-828-5970, +1-800-895-7708
Web site: http://www.comerica.com/
