DETROIT, April 24 /PRNewswire-FirstCall/ -- The Detroit Area Business Activity Index edged up 1 point in March to 100. While the latest reading is down 10 points from March 2006, this is the seventh consecutive reading that has held in the 98 to 100 area.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO )
"Favorable weather in March probably gave our index a boost and that should reverse next month," said Dana Johnson, Chief Economist at Comerica Bank. "I would really be encouraged about prospects for the local economy if our index holds at 98 or higher in April. However, it is too early to expect an improving trend in the metro area given the ongoing restructuring in the auto sector, the sharp declines in local building permits, and the backdrop of mediocre national growth."
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/
