DETROIT, Jan. 13 /PRNewswire-FirstCall/ -- The Advance Economic Barometer (AEB), Comerica's predictive index for the State of Michigan economy, registered 2.8 points in December, down 0.4 points from November, and below the year-earlier level of 4.9, said David Littmann, chief economist for Detroit-based Comerica Bank.
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The AEB reading suggests Michigan's Gross State Product is rising but at a decelerating pace, Littmann said.
Comerica's Michigan Business Activity Index (MBAI), a proxy for changes in statewide disposable personal income, depicts current movements in Michigan's real economy. In November the MBAI gained 1 point and now stands at 113, versus 111 in November 2003.
Comerica Bank, Michigan's oldest and largest bank, is the lead subsidiary of Comerica Incorporated (NYSE:CMA) , a multi-state financial services provider headquartered in Detroit.
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Source: Comerica Bank
CONTACT: David L. Littmann, Senior Vice President & Chief Economist of
Comerica Bank, +1-313-222-7241, +1-800-895-7708
Web site: http://www.comerica.com/
NOTE TO EDITORS: Details and history on the Advance Economic Barometer and its predictive relationship with the Michigan Business Activity Index can be obtained by contacting David Littmann.
