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DETROIT ECONOMY CONTINUES TO RISE

 DETROIT, March 17 /PRNewswire/ -- The Detroit Area Business Activity Index (DABAI) compiled by Comerica Bank climbed five points in February to 158 -- its highest point since December 1988.
 "The business activity index reveals momentum in the Southeast Michigan economy and serves as a proxy for growth in payroll income throughout metropolitan Detroit," said David L. Littmann, first vice president and senior economist with Comerica Bank in Detroit. "In February, the DABAI was up 7.9 percent from the prior year, an irrefutable sign that the better employment and production numbers we've been seeing are legitimate," he said.
 "Compared with a year ago, expanded employment and lengthening work weeks have added one full point to the index. The largest contributors to February's five-point gain included financial activity, steel output, and motor vehicle sales and production. A decline in electric power consumption partially offset the advance," said Littmann.
 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- 3/17/93
 /CONTACT: David L. Littmann, First Vice President & Senior Economist, Comerica Bank, 313-222-7241/
 (CMA)


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

ML -- DE004 -- 6906 03/17/93 09:13 EST
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Publication:PR Newswire
Date:Mar 17, 1993
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