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LOCAL ECONOMY RISES ONE POINT

 LOCAL ECONOMY RISES ONE POINT
 DETROIT, July 17 /PRNewswire/ -- In June, the Detroit Area Business


Activity Index (DABAI) gained one point, rising to a level of 145, compared with 144 in May. This contrasts with a year ago, when the local economy slipped to 135 in June from 136 in May. Thus, at mid- year, the DABAI was up 10 points, or 7.4 percent from 1991, and the first half of 1992 was running 8.3 percent above the first half of 1991.
 During June, steel output rose to its highest point this year and there were gains in the average hourly work week in manufacturing industries, along with an increase in the volume of financial transactions. Offsets to this strength came in auto sales and bank deposits.
 Advance economic indicators are currently suggesting that there will be little additional cyclical expansion in the region over the balance of 1992, but that it will hold the comparative gains already achieved because the economy lost momentum during the second half of last year.
 Comerica Incorporated (NYSE: CMA) compiles the DABAI monthly from eight different measures of regional activity which are seasonally adjusted, corrected for inflation, and expressed as an index with 1982 as base year equal to 100. The Economics Department of Comerica Incorporated has calculated the DABAI monthly since 1957, depicting metro Detroit's economy over seven full swings of the U.S. business cycle.
 -0- 7/17/92
 /CONTACT: David L. Littmann of Comerica, 313-222-7241/
 (CMA) CO: Comerica Incorporated ST: Michigan IN: FIN SU: ECO


ML -- DE005 -- 0133 07/17/92 10:11 EDT
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Publication:PR Newswire
Date:Jul 17, 1992
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