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METRO DETROIT PURCHASING MOMENTUM DIPS SLIGHTLY IN JANUARY

 DETROIT, Feb. 2 /PRNewswire/ -- Summary: January's survey of the National Association of Purchasing Management-Metro Detroit (NAPM-MD), compiled by Comerica Bank, registered an overall composite index of 58.5, a 3.3 point slip from December's level of 61.8. By comparison, the index for January a year earlier was a very weak 37.1.
 Comment
 "Despite the modest decrease, the latest survey is very encouraging," said David L. Littmann, first vice president and senior economist at Comerica Bank in Detroit.
 "New order activity remains quite strong, actually improving in the non-auto sector during January. Further, employment strengthened in the Detroit metro area, in contrast to the pattern of employment reported in January's national survey," said Littmann. Another indication of continued recovery, Littmann noted, was firmer prices for purchased materials.
 Items noted in short supply during January include gear bearings, powder metal parts, some computer and electrical components, versene, coils of steel and various filter and cartridges for large trucks.
 AUTO NON-AUTO TOTAL
 Jan. Dec. Jan. Dec. Jan. Dec.
 NAPM-MD INDEX 68.5 74.5 52.7 53.8 58.5 61.8
 Production 76.3 83.3 56.3 56.0 64.7 66.3
 New Orders 73.7 75.0 59.4 54.0 64.7 62.2
 Inventories 60.5 65.6 40.9 50.0 48.1 56.1
 Employment 63.2 59.4 43.9 40.0 51.0 47.6
 Vendor 47.4 46.9 45.5 44.0 46.2 45.1
 Performance
 Prices 63.2 65.6 56.3 50.0 58.8 50.0
 Weighting 36.5 39.0 100.0 100.0
 Comerica Bank compiles the NAPM-MD survey report from monthly responses of local purchasing managers belonging to the 500-member NAPM-MD (National Association of Purchasing Management-Metro Detroit). The report indicates whether fundamental measures of the economy are stronger, weaker or unchanged from the prior month.
 This Composite Index (CI) is a seasonally adjusted weighted average measure of new orders and production activity along with employment, inventories, and the promptness of supplier company deliveries. The index ranges from 0 to 100. A CI below 50 generally means conditions are deteriorating; CI levels above 50 denote expansion. The CI and its components have been tabulated since October 1985.
 -0- 2/2/93
 /CONTACT: David L. Littmann, First Vice President & Senior Economist, Comerica Bank, 313-222-7241/
 (CMA)


CO: Comerica Bank ST: Michigan IN: FIN SU: ECO

JG -- DE022 -- 2063 02/02/93 16:31 EST
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Date:Feb 2, 1993
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