DETROIT, Nov. 21 /PRNewswire-FirstCall/ -- The Detroit Area Business Activity Index fell to 98 in October, down 4 points from the revised September reading of 102. Newly revised source data caused us to lower the originally reported index for September of 105. The October reading for our index is the lowest since March 2003. So far this year, the Detroit index has averaged 4.7 percent less than it did in 2005.

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"The further deterioration of the metro area economy reflects accelerating cutbacks in auto production and severe weakness in the homebuilding sector," said Dana Johnson, Chief Economist at Comerica Bank. "Rainy weather this fall may have caused our index to exaggerate the weakness in the local economy, and we may see a partial rebound next month. But, I don't expect to see a sustained uptrend in the local economy for at least another six months."

Comerica Bank compiles the Detroit Area Business Activity Index (DABAI) monthly from eight different measures of regional activity which are seasonally adjusted, corrected for inflation, and expressed as an index, with 1996 as base year equal to 100. The Economics Department of Comerica Bank has calculated the DABAI monthly since 1957; depicting Metro-Detroit's economy over seven full swings of the U.S. business cycle.

Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Detroit, 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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SOURCE: Comerica Bank

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

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