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DETROIT ECONOMY INCREASES IN MAY

 DETROIT ECONOMY INCREASES IN MAY
 DETROIT, June 16 /PRNewswire/ -- In May, the Detroit Area Business


Activity Index (DABAI) gained three points, rising to a level of 145 from 142 in April. At a level of 145, Detroit's economy is 6.5 percent above May a year ago. Year to date, the local economy is 8.3 percent higher than the first five months of 1991. This is an encouraging development.
 Contributing most to May's increase in business activity were car sales and electric power consumption. The manufacturing sector stabilized, and the financial sector was slightly softer.
 Manufacturers Bank, N.A. 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 Economic 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- 6/16/92
 /CONTACT: David L. Littmann of Manufacturers Bank, 313-222-7241/
 (MNTL) CO: Manufacturers Bank, N.A. ST: Michigan IN: FIN SU: ECO


ML -- DE024 -- 0747 06/16/92 14:31 EDT
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Publication:PR Newswire
Date:Jun 16, 1992
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