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ECONOMIC BAROMETER STAYS HIGH IN OCTOBER

 DETROIT, Nov. 16 /PRNewswire/ -- The Advance Economic Barometer, a monthly forecast of national business activity six months into the future compiled by Comerica Bank, remained stable in October at a level of 3.7, foreshadowing improved real GDP growth for the nation into spring of 1994.
 "Advance Economic Barometer readings between 3.5 and 4.0, if sustained, typically result in 3 to 4 percent real expansion rates six months later for the U.S. economy," said David L. Littmann, senior economist for Comerica Bank. October represents the third consecutive month that the Barometer has registered above 3.0.
 A significant aspect of the Advance Economic Barometer is its ability to signal strength or weakness in the Michigan economy seven months ahead. Steadily rising Barometer readings since June 1993 point to likely increases in Michigan's business activity early next year, after a possible easing during the fall months.
 The Advance Economic Barometer combines three series into a single, balanced and comprehensive leading indicator: inflation-adjusted money growth, yield curve spread, and the Commerce Department's Index of Leading Indicators.
 -0- 11/16/93
 /CONTACT: David L. Littmann, first vice president and senior economist of Comerica Incorporated, 313-222-7241/
 (CMA)


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

KE -- DE033 -- 5167 11/16/93 14:42 EST
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Publication:PR Newswire
Date:Nov 16, 1993
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