DETROIT, March 13 /PRNewswire-FirstCall/ -- The Michigan Business Activity Index compiled by Comerica Bank was unchanged in January at 106. That is the fourth time in the last five months that our index produced a reading of 106.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO )
"For the past two years, the Michigan economy has been trending sideways," according to Dana Johnson, chief economist at Comerica Bank. "The good news is that the state economy is holding up reasonably well, despite the aggressive restructuring in the auto manufacturing sector. The disappointment is that Michigan continues to badly lag the national economy."
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 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, Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships, and helping businesses and people be successful. Comerica reported total assets of $53.0 billion at December 31, 2005.
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Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGOSOURCE: Comerica Bank
CONTACT: Dana Johnson, Senior Vice President and Chief Economist of
Comerica Bank, +1-734-930-2401 or +1-800-895-7708
Web site: http://www.comerica.com/
