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MICHIGAN ECONOMY PAUSES, ACCORDING TO MICHIGAN BUSINESS ACTIVITY INDEX

MICHIGAN ECONOMY PAUSES, ACCORDING TO MICHIGAN BUSINESS ACTIVITY INDEX
 DETROIT, Aug. 31 /PRNewswire/ -- In July, the Michigan Business Activity Index (MBAI) was unchanged from June at a level of 134. At this level, the state's economy was 6.6 percent above July 1991 and is running 7.6 percent above the business activity levels of last year on a year-to-date comparison.
 "It appears that the Michigan economy paused for a breath in July," according to David L. Littmann, chief economist for Comerica Bank in Detroit. "I am encouraged that the state's economy held its gains from June, considering the lower motor vehicle output in July. Financial activity surged in July, reflecting the sudden decline in interest rates. This helped offset the lower auto and truck production and the decline in gas and electric power sales caused, in part, by a cooler- than-normal July."
 The MBAI represents 10 different measures of Michigan economic activity compiled monthly by the Economics Department of Comerica Bank. The MBAI is seasonally adjusted, corrected for inflation, and expressed on an index basis with base year 1982 equal to 100. The MBAI series has been calculated monthly since 1957 and depicts state economic activity over seven full swings of the U.S. business cycle.
 -0- 8/31/92
 /CONTACT: David L. Littmann, first vice president and senior economist, Comerica Bank, 313-222-7241/
 (CMA) CO: Comerica Bank ST: Michigan IN: FIN SU: ECO


SM -- DE010 -- 4914 08/31/92 11:20 EDT
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Publication:PR Newswire
Date:Aug 31, 1992
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