Printer Friendly

MICHIGAN SLIGHTLY UNDERPERFORMS U.S. ECONOMY IN THE FIRST QUARTER

 MICHIGAN SLIGHTLY UNDERPERFORMS U.S. ECONOMY IN THE FIRST QUARTER
 DETROIT, May 5 /PRNewswire/ -- In March, the Michigan Business Activity Index (MBAI) slipped to 129, compared with 132 in February and 133 in January. Somewhat disappointing auto sales and lower steel output were the data series principally responsible for the March slippage in economic activity. Nevertheless, Michigan's economy, after removing the effects of inflation, was operating 10 full points above the levels of March a year ago.
 For the first quarter of 1992, the MBAI grew at a 1.85-percent annual rate, compared with just-released U.S. GDP real growth (preliminary) of 2 percent. The U.S. GDP must be consistently advancing at real rates of at least 3 percent for unemployment rates to decline, for consumer confidence to rise and autos to sell well. Of the 10 series comprising the MBAI, five were lower and five were above previous levels during March.
 The current MBAI represents the highest such quarterly level since the third quarter of 1990, a year and a half ago.
 The Michigan Business Activity Index represents 10 different measures of Michigan economic activity compiled monthly by the Economics Department of Manufacturers Bank, N.A. 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- 5/5/92
 /CONTACT: David L. Littmann of Manufacturers Bank, N.A., 313-222-7241/
 (MNTL) CO: Manufacturers Bank, N.A. ST: Michigan IN: FIN SU: ECO


KK -- DE023 -- 6618 05/05/92 13:47 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 5, 1992
Words:278
Previous Article:HYUNDAI REPORTS SALES
Next Article:STANDARD MOTOR PRODUCTS REPORTS RESULTS


Related Articles
DETROIT ECONOMY INCREASES IN MAY
CONSUMERS POWER SETS ELECTRIC SENDOUT RECORD FOR MARCH
MICHIGAN ECONOMY DIPPED IN APRIL DESPITE BETTER CAR SALES
DOW CORNING ANNOUNCES SECOND-QUARTER FINANCIAL RESULTS
STATE CEOs UNHAPPY WITH CLINTON, CONCERNED WITH HIS AGENDA; GIVE IMPROVED MARKS TO ENGLER; GUARDEDLY OPTIMISTIC ABOUT 1994 PROSPECTS
MICHIGAN ECONOMY CLIMBED 5.8 PERCENT IN 1993
ECONOMIC PREDICTOR HOLDS STEADY IN JULY
MICHIGAN ECONOMY MAINTAINS STEADY PACE, COMERICA INDEX SHOWS
CMS ENERGY REPORTS INCREASED FIRST QUARTER EARININGS
Michigan's September Unemployment Rate Up Slightly, Reports Michigan Department of Career Development.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters