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Article: Comerica Bank's Michigan Business Activity Index Registers 4-Point Decline.
- Article from:
- PR Newswire
- Article date:
- July 1, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Michigan Business Activity Index, compiled by Comerica Bank, lost 4 points in May, to close at 107, compared with 111 in April. A year earlier the index stood at 114.
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"Year-to-date through May, Michigan's Business Index is up only 0.6 percent compared with 2003," said David Littmann, chief economist at Comerica Bank. "During May, auto sales and output fell and labor market data appeared to be stabilizing. Unemployment rates have shifted lower, and the leading indicator for the region continues to point higher."
The Michigan Business Activity Index (MBAI) represents 10 ...