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Article: Michigan Economy Holds Steady in April Reports Comerica Bank's Michigan Business Activity Index.
- Article from:
- Science Letter
- Article date:
- June 16, 2009
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Comerica Bank's Michigan Business Activity Index was unchanged in April compared to the revised level of 74 for March. Relative to a year earlier, the April Index is down 16 points, representing the seventh consecutive month of double-digit year-on-year declines. Year-to-date the Index has averaged 73, down 14 points from the average for all of 2007 (see also Comerica Bank).
"Our Index continues to show that the Michigan economy is contracting more slowly in early 2009, paralleling the pattern seen in the national economy," said Dana Johnson, Chief Economist at Comerica Bank. "As summer approaches, however, temporary shutdowns at GM and Chrysler, coupled with ...