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DETROIT AREA BUSINESS ACTIVITY INDEX IMPROVES IN FEBRUARY

 DETROIT AREA BUSINESS ACTIVITY INDEX IMPROVES IN FEBRUARY
 DETROIT, March 17 /PRNewswire/ -- In February, the Detroit Area Business Activity Index (DABAI) rose two points to 146, compared with 144 in January. Stronger auto sales and motor vehicle production in February, along with gains in electric power sales, were chiefly responsible for the improvement.
 The Detroit-area economy is operating at levels 12.1 percent higher than February 1991, and for the first two months of 1992, the comparative gain with last year is 10.5 percent. Despite the easy comparisons with depressed activity levels in 1991, the fact remains that even if the DABAI were to show no further economic improvement for the balance of 1992, the calendar-year gain from 1991 would be 5.8 percent. This is a very favorable development.
 Manufacturers Bank, N.A. compiles the DABAI monthly from eight different measures of regional activity which are seasonally adjusted, corrected for inflation, and expressed as an index with 1982 as base year equal to 100. The Economics Department of Manufacturers Bank, N.A. has calculated the DABAI monthly since 1957, depicting metro Detroit's economy over seven full swings of the U.S. business cycle.
 -0- 3/17/92
 /CONTACT: David L. Littmann of Manufacturers Bank, 313-222-7241/
 (MNTL) CO: Manufacturers Bank, N.A. ST: Michigan IN: FIN SU: ECO


ML -- DE011 -- 8862 03/17/92 15:22 EST
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Publication:PR Newswire
Date:Mar 17, 1992
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