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DETROIT ECONOMY ACCELERATES

 DETROIT, Dec. 18 /PRNewswire/ -- In November, the Detroit Area Business Activity Index (DABAI) climbed five points to a level of 157, compared with 152 in October. "Detroit's economy has been expanding since March but has shown renewed acceleration since August," said David L. Littmann, first vice president and senior economist at Comerica Bank in Detroit.
 As of November, the DABAI was 5.9 percent above November 1991, and registered a 7.1-percent year-to-date advance over 1991. Littmann noted that the latest spurt reflects strength in seasonally adjusted auto sales and steel production. He further indicated that some key indicators of future activity now strongly suggest that the local economy will continue achieving gains and will reach new cyclical peaks in 1993.
 Comerica Bank compiles the Detroit Area Business Activity Index 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 Comerica Bank has calculated the DABAI monthly since 1957, depicting metro Detroit's economy over seven full swings of the U.S. business cycle.
 -0- 12/18/92
 /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

SB -- DE010 -- 8252 12/18/92 13:14 EST
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Publication:PR Newswire
Date:Dec 18, 1992
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