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ADVANCE ECONOMIC BAROMETER POINTS TO IMPROVING ECONOMY IN 1993

 DETROIT, Dec. 23 /PRNewswire/ -- The prospects for an improved economy in 1993 continue to be affirmed by favorable readings in Comerica Bank's Advance Economic Barometer.
 "In November, the Advance Economic Barometer held relatively steady at a level of 3.1, compared to a revised 3.2 mark for October," said David G. Sowerby, vice president & economist, Comerica Incorporated (NYSE: CMA). "At its present level, the Advance Economic Barometer is continuing to project 3.0 to 4.0 percent real Gross Domestic Product growth in the first half of 1993."
 All three components in the Advance Economic Barometer were largely unchanged in November. Of the money supply measurements, inflation- adjusted money growth for the monetary base remained very robust, rising at a 9 percent pace, while real M3 money growth remained weak, down 3 percent on a six month annualized basis. Combined, the money supply measurements reflect healthy monetary stimulation consistent with an improving economy.
 Of the Barometer's two other components, the yield curve spread continues to favor a much stronger economy, while the government's index of leading indicators is pointing to a more moderate rebound. Despite some contradicting signals among each individual variable, together they continue to portend stronger than anticipated business conditions in 1993.
 The favorable forecasting track record of Comerica Bank's Advance Economic Barometer is attributed to the combination of three broad measurements which capture changes in the monetary, financial and real sectors of the U.S. economy. The Barometer combines three series into a single, balanced and comprehensive leading indicator: inflation- adjusted money growth, yield curve spread, and the Commerce Department's Index of Leading Indicators.
 -0- 12/23/92
 /CONTACT: David G. Sowerby, vice president and economist, Comerica Incorporated, 313-222-4829/
 (CMA)


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

JG -- DE009 -- 9512 12/23/92 11:06 EST
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Publication:PR Newswire
Date:Dec 23, 1992
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