DETROIT, April 7 /PRNewswire-FirstCall/ -- The Michigan Business Activity Index, compiled by Comerica Bank, edged down to 108 in February from 109 in January. After moving lower in early 2004, the index has been fluctuating in a narrow band around the 108 level since June of last year.

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"Economic activity in Michigan has been on a plateau for nine months. None of the components of our index are showing a consistent pattern of growth yet," according to Dana Johnson, chief economist at Comerica Bank. "With major Michigan-based auto, furniture, and drug companies recently announcing cost-cutting initiatives, the state's economy seems likely to lag the national performance in the months ahead."

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 on an index basis. 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 Bank, the largest bank in Michigan, is a subsidiary of Comerica Incorporated (NYSE:CMA) . Headquartered in Detroit, Comerica is strategically aligned by the Business Bank, Small Business Banking & Personal Financial Services, and Wealth & Institutional Management. Comerica focuses on relationships, and helping businesses and people be successful. Comerica reported total assets of $51.8 billion at December 31, 2004.

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PRN Photo Desk, photodesk@prnewswire.com
Source: Comerica Bank

CONTACT: Dana Johnson, Senior Vice President and Chief Economist of
Comerica Bank, +1-734-930-2401, or +1-800-895-7708

Web site: http://www.comerica.com/