DETROIT, March 12 /PRNewswire-FirstCall/ -- The Michigan Business Activity Index compiled by Comerica Bank rose 2 points in January to 103. Although it showed a modest rebound compared to December, the January reading is still down about 1/2 percent from the average for all of 2007.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO )
While the state economy apparently held up relatively well in January, upcoming months are likely to show renewed weakness," according to Dana Johnson, Chief Economist at Comerica Bank. "With light vehicle sales weak nationally and the Michigan-based car companies already announcing production cuts for the spring, the weakness in the U.S. economy is virtually certain to spill over to Michigan in the period 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 and Chief Economist,
Comerica Bank, +1-214-828-5970, or 1-800-895-7708
Web site: http://www.comerica.com/
