DETROIT, Sept. 26 /PRNewswire-FirstCall/ -- The Detroit Area Business Activity Index edged up 1 point in August to 101. So far in 2007, the index has averaged 100, 5 percent below the average for all of 2006.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO )
"The Detroit regional economy is still struggling against a background of soft car sales, sluggish national growth, and a serious credit crunch," said Dana Johnson, Chief Economist at Comerica Bank. "While it's great news that GM and the UAW appear to have reached an agreement, growth prospects for the local economy will not brighten until the national economy begins to reaccelerate."
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, +1-800-895-7708
Web site: http://www.comerica.com/
