DETROIT, April 4 /PRNewswire-FirstCall/ -- The Detroit Area Business Activity Index edged up 1 point in February to 99. The latest reading matches the average for the 4th quarter of 2006 and is down about 12 percent from a year ago.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO )
"While our index has held about steady for the past five months, it is too early to conclude that the economy is stabilizing," said Dana Johnson, Chief Economist at Comerica Bank. "With the national economy growing sluggishly and with auto sector restructuring still resulting in declining incomes and jobs in the region, I expect our index to continue trending lower well into 2007."
Comerica Incorporated (NYSE: CMA) is a financial services company 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/
