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MICHIGAN ECONOMY STARTS 1996 ON RECORD NOTE -- COMERICA INDEX

DETROIT, March 8 /PRNewswire/ -- The Michigan Business Activity Index compiled by Comerica Bank rebounded in January to a record high level of 167, up 8 points from December's reading. Michigan's economy in January was 4.6 percent above year-earlier levels.

"At this activity level, Michigan's economy, like the Dow Jones, has hit a new record," said David L. Littmann, first vice president and senior economist with Comerica Bank. "Increased financial activity and stronger steel output were the principal reasons for the state's new economic peak in January. Of the 10 measures comprising the index, four moved higher, including seasonally adjusted auto sales," Littmann noted.

The Michigan Business Activity Index represents 10 different measures of Michigan economic activity compiled monthly by the Economics Department of Comerica Bank. The index is seasonally adjusted, corrected for inflation, and expressed on an index basis with base year 1982 equals 100. The Michigan Business Activity Index series has been calculated monthly since 1957 and depicts state economic activity over seven full swings of the U.S. business cycle.
 -0- 3/8/96


/CONTACT: David L. Littmann, First Vice President and Senior Economist of Comerica Bank, 313-222-7241, or 800-895-7708/

(CMA)

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

SC -- DEF021 -- 1676 03/08/96 15:21 EST
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Publication:PR Newswire
Date:Mar 8, 1996
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