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MICHIGAN BUSINESS ACTIVITY INDEX: JANUARY BOUNCES BACK

 MICHIGAN BUSINESS ACTIVITY INDEX: JANUARY BOUNCES BACK
 DETROIT, March 4 /PRNewswire/ -- In January, the Michigan Business


Activity Index (MBAI) jumped to 132, a gain of five points from December, and equal to the state's November 1991 level of business activity.
 Between December and January, most components of the MBAI were stable, but the gains in financial activity and auto sales outweighed losses in motor vehicle output, thereby prompting a bounce-back in the Index.
 Compared with a severely depressed January 1991, the current January MBAI is up 7.6 percent -- this, despite a state unemployment rate of 9.8 percent this January, compared with 8.6 percent a year earlier.
 The Michigan Business Activity Index represents 10 different measures of Michigan economic activity compiled monthly by the Economics Department of Manufacturers Bank, N.A. The MBAI is seasonally adjusted, corrected for inflation, and expressed on an index basis with base year 1982 equal to 100. The MBAI series has been calculated monthly since 1957 and depicts state economic activity over seven full swings of the U.S. business cycle.
 -0- 3/4/92
 /CONTACT: David L. Littmann of Manufacturers Bank, 313-222-7241/
 (MNTL) CO: Manufacturers Bank, N.A. ST: Michigan IN: FIN SU: ECO


ML -- DE031 -- 5066 03/04/92 15:46 EST
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Publication:PR Newswire
Date:Mar 4, 1992
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