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MICHIGAN ECONOMY EDGED HIGHER IN MARCH

 DETROIT, May 5 /PRNewswire/ -- The Michigan Business Activity Index compiled by Comerica Bank rose one point to 141 in March, compared to 140 in February. This improvement represents a 9 percent real gain over March 1992 and brings the year-to-date advance for the first quarter to 6 percent.
 "Improvement in the Michigan Business Activity Index during March primarily reflected a spurt in state output of motor vehicles especially vans and trucks," said David L. Littmann, first vice president and senior economist with Comerica Bank in Detroit.
 "Most employment and financial indicators were stable between February and March, and sizable increases in the consumption of electric and gas energy resources confirmed the large motor vehicle production gains. These gains were partially offset by a two-point loss in steel output," Littmann said.
 The Michigan Business Activity Index represents 10 different measures of Michigan economic activity compiled monthly by the Economics Department of Comerica Bank. The Index is seasonally adjusted, corrected for inflation and expressed on an index basis with base year 1982 equals 100. It has been calculated monthly since 1957 and depicts state economic activity over seven full swings of the U.S. business cycle.
 -0- 5/5/93
 /CONTACT: David L. Littmann, First Vice President & Senior Economist, Comerica Bank, 313-222-7241/
 (CMA)


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

KE -- DE020 -- 4869 05/05/93 12:36 EDT
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Publication:PR Newswire
Date:May 5, 1993
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