DETROIT, Jan. 23 /PRNewswire-FirstCall/ -- The Detroit Area Business Activity Index held at 100 in December. The latest reading is still down about 11 percent from December 2005. Over the past twelve months, the Detroit index has averaged 5.7 percent less than it did in 2005.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO )
"The Detroit regional economy did not get a significant lift from the unusually mild weather that prevailed for much of December," according to Dana Johnson, Chief Economist at Comerica Bank. "Looking ahead, the local economy will continue to lag the nation in 2007. The direct and indirect impact of the restructuring of the domestic auto industry is creating a heavy drag on production, employment, and income in the metro area."
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Detroit, 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, or +1-800-895-7708
Web site: http://www.comerica.com/
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