MICHIGAN BUSINESS ACTIVITY INDEX CLASSIFIED AS 'WAFFLING MATILDA'
MICHIGAN BUSINESS ACTIVITY INDEX CLASSIFIED AS 'WAFFLING MATILDA' DETROIT, June 1 /PRNewswire/ -- In April, the Michigan Business Activity Index (MBAI) stood at 130, a one-point gain from March and 5.9 percent above April 1991. The MBAI has now waffled in a narrow range between 127 and 133 for nine consecutive months. In April, the automotive sector exhibited strength with a 2-point gain in auto sales and a 1.5-point gain in car and truck production. Most other components of the Index were stable between March and April. Some weakness in the financial series partially offset gains in production and sales. Year to date through April, Michigan's economy is up 7.9 percent. The MBAI 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- 6/1/92 /CONTACT: David L. Littmann, first vice president and senior economist, Manufacturers Bank, N.A., 313-222-7241/ (MNTL) CO: Manufacturers Bank, N.A. ST: Michigan IN: FIN SU: ECO
JG -- DE028 -- 5818 06/01/92 15:13 EDT
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|Date:||Jun 1, 1992|
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