DETROIT, May 31 /PRNewswire-FirstCall/ -- The Detroit Area Business Activity Index fell 2 points in April to 98. While the latest reading is down 8 points from April 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 )
"I am encouraged to see our index level off after having trended lower from the fall of 2003 to the fall of 2006," said Dana Johnson, Chief Economist at Comerica Bank. "However, I won't get optimistic that a recovery is forming in Southeast Michigan until I see that the national economy is reaccelerating and that the Michigan-based car companies have agreed to a new contract with the United Auto Workers."
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/
