DETROIT, Jan. 9 /PRNewswire-FirstCall/ -- The Michigan Business Activity Index compiled by Comerica Bank fell 2 points in November to 102, reversing the 2 point rise in October. Over the first eleven months of 2007, the index has averaged 103.8, down 0.5 from the average for all of 2006.
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"Our index has been trending sideways at a depressed level for more than a year, and the November reading did nothing to alter that pattern," said Dana Johnson, Chief economist at Comerica Bank. "However, the clear risk is that our index will start trending lower in early 2008, reflecting a further weakening of the Michigan economy in reaction to the sharp slowdown this winter in the national economy."
The Michigan Business Activity Index (MBAI) represents ten different measures of Michigan economic activity compiled monthly by the Economics Department of Comerica Bank. The MBAI is seasonally adjusted, corrected for inflation, and expressed as an index, with 1996 as base year equal to 100. The MBAI series has been calculated monthly since 1957 and depicts state economic activity over seven full swings of the U.S. business cycle.
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: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGOSOURCE: Comerica Bank
CONTACT: Dana Johnson, Senior Vice President and Chief Economist,
Comerica Bank, +1-214-828-5970, +1-800-895-7708
Web site: http://www.comerica.com/
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