DETROIT, May 6 /PRNewswire-FirstCall/ -- The Michigan Business Activity Index compiled by Comerica Bank was unchanged in March at 101. In the first three months of 2008, the index is down less than 1 point from the fourth quarter average and is about 3 points lower than the average for the third quarter of 2007.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO )
"With the Michigan economy less dependent on the auto sector than it was in the past, the weakness in the national economy is not having a devastating impact on the state economy," said Dana Johnson, Chief economist at Comerica Bank. "To be sure, activity in Michigan is slowing in early 2008, but in a manner that roughly parallels the slowdown in the national economy."
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 $67 billion at March 31, 2008. 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,
+1-214-828-5970, 800-895-7708
Web site: http://www.comerica.com/
