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/PRNewswire/ Comerica Bank s Michigan Economic Activity Index increased in December to a level of 108.6. December s reading was 25 percent higher than the.
Grand Rapids Business Journal
Economic activity increased for the fourth consecutive month, but the rate of improvement is slowing.
Comerica Bankâs Michigan Economic Activity Index increased for the fourth consecutive month in October, reflecting improving economic conditions prior to the current surge in coronavirus cases.
The bankâs Michigan index increased in October to a level of 106.2, a reading that was 22% higher than the historical low. The index averaged 117.9 points for all of 2019, 0.6 points below the index average for 2018. Septemberâs index reading was 105.6.
Although the Mitten Stateâs index increased for the fourth consecutive month in October, its rate of improvement declined for each of the last three months, which according to Robert Dye, Comericaâs senior vice president and chief economist, was an âominousâ sign.
Comerica Bank s Michigan Index Inched Up
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DALLAS, Jan. 29, 2021 /PRNewswire/ Comerica Bank s Michigan Economic Activity Index increased in November to a level of 106.3. November s reading was 22 percent higher than the historical low. The index averaged 117.8 points for all of 2019, 0.7 points below the index average for 2018. October s index reading was 106.2.
Our Michigan economic activity index increased for the fifth consecutive month in November, but the change was barely positive, up by just 0.1 percent. Only three out of nine sub-indexes improved in November. They were nonfarm payrolls, unemployment insurance claims (inverted), and house prices. The six declining sub-indexes were housing starts, industrial electricity demand, light vehicle production, total state trade, hotel occupancy and state sales tax revenue. We could easily see a decline in the Michigan Index at year end reflecting strains in the U.S. economy