Michigan Economy Regains Momentum in December, Reports Comerica Bank's Michigan Economic Activity Index
03 2월 2010 - 5:21AM
PR Newswire (US)
DALLAS, Feb. 2 /PRNewswire-FirstCall/ -- Comerica Bank's Michigan
Economic Activity Index rose 4 points in December, fully reversing
the decline in November. The fourth quarter 2009 average was up 2.3
percent from the third quarter and up 9 percent compared to the
second quarter, which was the cyclical low. The Index averaged 74
for all of 2009, 13 points below the 2008 average. (Logo:
http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO) "The
broad-based improvement evidenced in our Index since May surfaced
again in December, with seven out of nine variables contributing
positively to the Index," said Dana Johnson, Chief Economist at
Comerica Bank. "Bolstered by a rise in steel production, as well as
more favorable auto sales, December's Index erased November's dip,
the only decline in the Index since its May 2009 low. Looking to
2010, our Index should continue to trend higher as a rebound in the
state's auto sector evolves into a more broadly-based recovery."
The Michigan Economic Activity Index equally weights nine,
seasonally-adjusted coincident indicators of real economic
activity. These indicators reflect activity in the construction,
manufacturing and service sectors as well as job growth and
consumer outlays. Historical data is available upon request.
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 and Mexico. Comerica reported
total assets of $59.3 billion as of December 31, 2009. To receive
this Index directly to your email inbox, go to
http://www.comerica.com/econsubscribe to subscribe.
http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO
http://photoarchive.ap.org/ DATASOURCE: Comerica Bank CONTACT:
Media, Dana Johnson, Senior Vice President and Chief Economist,
+1-214-462-6839, , or Data, Meaghan Derrick, Research Assistant,
+1-214-462-6815, , both of Comerica Bank Web Site:
http://www.comerica.com/
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