DETROIT, Nov. 30 /PRNewswire-FirstCall/ -- The Michigan Business Activity Index compiled by Comerica Bank rose 2 points in October to 104. Over the first ten months of 2007, the index has averaged 104, essentially the same as the average for all of 2006.
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"Apart from the strike-related volatility in the auto sector in recent months, the Michigan economy appears to be trending sideway this year, said Dana Johnson, Chief Economist at Comerica Bank. "However, cyclical weakness in the national economy could pose yet another challenge for the state's economy this winter. Given that the state still has an unusually large, cyclically-sensitive manufacturing sector, Michigan will suffer more than most states if the national economy stalls."
The Michigan Business Activity Index (MBAI) represents ten different measures of Michigan economic activity compiled monthly by the Economics Department of Comerica Bank. The MBAI is seasonally adjusted, corrected for inflation, and expressed as an index, with 1996 as base year equal to 100. The MBAI series has been calculated monthly since 1957 and depicts state economic activity over seven full swings of the U.S. business cycle.
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: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGOSOURCE: Comerica Bank
CONTACT: Dana Johnson, Senior Vice President and Chief Economist of
Comerica Bank, +1-214-828-5970, +1-800-895-7708
Web site: http://www.comerica.com/
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