Printer Friendly

ADVANCE ECONOMIC BAROMETER SIGNALS GREEN LIGHT FOR ECONOMY

 DETROIT, March 23 /PRNewswire/ -- The U.S. economy is projected to maintain above-average growth rates for the next two quarters, according to the Advance Economic Barometer compiled by Comerica Bank.
 The Advance Economic Barometer had a value of 4.0 in February, the third consecutive month the leading indicator has been 4.0 or higher -- its best performance since 1987. At present levels, the Barometer is projecting U.S. real GDP growth of 4.0 percent or higher during the first half of 1993.
 The Advance Economic 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.
 In 1993, the Barometer is being fueled by a wide yield curve spread and faster growth for the government's Index of Leading Indicators. The third component of the Barometer, inflation-adjusted money growth, has stalled in the past month due to weakness for M2 money supply growth, while high-powered money -- the monetary base -- remains bullish.
 Together, the three major components of the Barometer suggest continued acceleration, contrary to many economists who assert that the economy will not be able to maintain the favorable momentum experienced in the final quarter of 1992.
 Over the past four years, Comerica's Advance Economic Barometer has been an accurate leading indicator for the U.S. economy. For example, during the third quarter of 1992, the Barometer was signalling faster economic growth than the Wall Street consensus. Specifically, the Barometer was projecting U.S. real GDP growth of 3.6 percent in the second half of 1992 -- significantly higher than the Wall Street consensus estimates of 2.4 percent growth. Actual real GDP growth averaged 4.1 percent in the third and fourth quarters of 1992.
 -0- 3/23/93
 /CONTACT: David G. Sowerby, Vice President & Economist, Comerica Incorporated, 313-222-4829/
 (CMA)


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

SB -- DE007 -- 8579 03/23/93 10:18 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 23, 1993
Words:325
Previous Article:EFFECTIVE INVESTOR RELATIONS PRODUCTS AND SERVICES TO BE TOPIC AT APRIL 6 NATIONAL INVESTOR RELATIONS INSTITUTE MEETING
Next Article:TRAVTEK DRIVERS LIKE SYSTEM; PUBLIC/PRIVATE PARTNERSHIP A SUCCESS
Topics:


Related Articles
ADVANCE ECONOMIC BAROMETER UP IN JUNE
ADVANCE ECONOMIC BAROMETER STABLE IN APRIL
ADVANCE ECONOMIC INDICATOR MORE OPTIMISTIC IN JULY
ADVANCE ECONOMIC BAROMETER NOW IN A RISING PATTERN
ECONOMIC BAROMETER STAYS HIGH IN OCTOBER
ADVANCE ECONOMIC BAROMETER LEVELS OFF IN NOVEMBER
COMERICA INDEX FORECASTS ECONOMIC SLOWDOWN IN 1995
ECONOMIC PREDICTOR FALLS AGAIN IN AUGUST
Comerica Economist Predicts Expansion for Texas Economy Through 2004.
Comerica Index: Modest Expansion Predicted for Michigan Economy Over Balance of 2003.

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