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DETROIT ECONOMY STABLE IN APRIL

 DETROIT ECONOMY STABLE IN APRIL
 DETROIT, May 18 /PRNewswire/ -- In April, the Detroit Area Business


Activity Index (DABAI) remained unchanged from March's level of 142. At 142, the local economic index was operating at 4.5 percent above year-ago April levels. On a year-to-date basis, the first one-third of this year shows Detroit's economy up 8.9 percent compared with depressed levels of activity during the same January through April period of 1991.
 During April, motor vehicle output and car sales experienced modest gains, along with steel production and checking-deposit totals at metro- area banks. Unfortunately, reduced volumes of large financial transactions, lower electric power sales and lackluster labor markets offset these gains, leaving the monthly index only fractionally higher than March.
 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- 5/18/92
 /CONTACT: David L. Littmann of Manufacturers Bank, N.A., 313-222-7241/
 (MNTL) CO: Manufacturer's Bank, N.A. ST: Michigan IN: FIN SU: ECO


KK -- DE020 -- 1339 05/18/92 12:29 EDT
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Publication:PR Newswire
Date:May 18, 1992
Words:221
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