DETROIT, April 3, 2008 /PRNewswire-FirstCall/ -- The Michigan Business Activity Index compiled by Comerica Bank fell 2 points in February to 101, reversing the 2 point rise in January. In the first two months of 2008, the index is down less than 1 point from the fourth quarter average and down about 1 1/2 points from the average for all of 2007.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO )
"Recent trends in Michigan look broadly similar to national trends," according to Dana Johnson, Chief Economist at Comerica Bank. "Both the national and the state economy appear to be contracting at a moderate pace. For Michigan, the evidence is growing that the structural adjustments in the auto sector are slowing, but now the major car companies must adjust to a cyclical downturn in light vehicle sales."
Comerica Incorporated is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada, China and Mexico. Comerica reported total assets of $62.3 billion at December 31, 2007. To receive e-mail alerts of breaking Comerica news, go to http://www.comerica.com/newsalerts .
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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/newsalerts
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