DETROIT, March 19 /PRNewswire-FirstCall/ -- The Detroit Area Business Activity Index fell 2 points in January to 98. The latest reading matches the recent low recorded in October 2006 and is down about 12 percent from a year ago.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO )
"The Detroit metro area has been hit much harder than the state as a whole by the restructuring of the auto industry," said Dana Johnson, Chief Economist at Comerica Bank. "That pattern is apparent in the fact that our activity index for Detroit region has declined about three times as much as our index for the state over the past twelve months. With intense restructuring efforts still in the works in the auto sector, the Detroit regional economy is likely to continue to lag the overall state 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, or +1-800-895-7708
Web site: http://www.comerica.com/
