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MICHIGAN BUSINESS ACTIVITY INDEX RISES IN FEBRUARY

 DETROIT, April 7 /PRNewswire/ -- The Michigan Business Activity Index (MBAI) compiled by Comerica Bank (NYSE: CMA) reached a level of 140 in February, compared to an upward-revised 137 in January.
 At 140, the Michigan economy is 5.9 percent better off than one year ago. For the first two months of 1993, Michigan's economy was up 4.3 percent from 1992, after removing the effects of inflation.
 "Index improvement in February largely validates the still-rising automotive sector. Also, rising steel and financial indicators confirm higher auto production and sales activity," said David L. Littmann, first vice president and senior economist with Comerica Bank in Detroit. "These continued index gains help explain the significant and consistent declines in the state's unemployment rates."
 During February, six of the 10 indicators of the MBAI showed improvement, two were unchanged and two (the energy components) showed declines.
 The Michigan Business Activity Index (MBAI) represents 10 different measures of Michigan economic activity compiled monthly by the Economics Department of Comerica Bank. The MBAI is seasonally adjusted, corrected for inflation and expressed on an index basis with base year 1982 equals 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- 4/7/93
 /CONTACT: David L. Littmann, first vice president & senior economist, Comerica Bank, 313-222-7241/
 (CMA)


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

KE -- DE010 -- 3777 04/07/93 12:38 EDT
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Date:Apr 7, 1993
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