Tag Archives: Michigan Economic Activity Index

Comerica Michigan Business Index Falls Again

DETROIT — Comerica Bank’s Michigan Economic Activity Index fell in September, down 0.9 percentage points to a level of 128.1.

The Michigan Economic Activity Index consists of eight variables, as follows: nonfarm payrolls, exports, hotel occupancy rates, continuing claims for unemployment insurance, housing starts, sales tax revenues, home prices, and auto production. All data are seasonally adjusted, and indexed to a base year of 2008. Nominal values have been converted to constant dollar values. Index levels are expressed in terms of three-month moving averages.

Comerica economist Robert Dye blamed a slowdown in housing starts in the region, along with lower auto production and state tax revenues.

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Comerica Bank’s Michigan Index Eases

DETROIT — Comerica Bank’s Michigan Economic Activity Index fell 0.4 percentage points in July to a level of 129.4.

The Michigan Economic Activity Index consists of eight variables: nonfarm payrolls, exports, hotel occupancy rates, continuing claims for unemployment insurance, housing starts, sales tax revenues, home prices, and auto production. All data are seasonally adjusted, and indexed to a base year of 2008. Nominal values have been converted to constant dollar values. Index levels are expressed in terms of three-month moving averages.

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Comerica Bank’s Michigan Index Climbs

DETROIT — Comerica Bank’s Michigan Economic Activity Index increased 1.9 percentage points in June to a level of 129.8, up from 127.9 in May.

The Michigan Economic Activity Index consists of eight variables: nonfarm payrolls, exports, hotel occupancy rates, continuing claims for unemployment insurance, housing starts, sales tax revenues, home prices, and auto production.

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Comerica Bank’s Michigan Index Falls On Flat Auto Production

Comerica Bank’s Michigan Index Flattens as Auto Production Stabilizes

DETROIT — Comerica Bank’s Michigan Economic Activity Index fell 0.7 percent in March to a level of 127.2 from 127.9 in February.

The index consists of eight variables: nonfarm payrolls, exports, hotel occupancy rates, continuing claims for unemployment insurance, housing starts, sales tax revenues, home prices, and auto production.

All data are seasonally adjusted, and indexed to a base year of 2008. Nominal values have been converted to constant dollar values. Index levels are expressed in terms of three-month moving averages.

“Our Michigan Economic Activity Index dipped slightly in March and remains range bound since late last year,” said Comerica chief economist Robert Dye. “Jobs are still being added to the Michigan economy, but the state’s important manufacturing sector is facing three challenges. First, demand for manufactured goods from the oil and gas industry has collapsed. Second, the relatively strong dollar and tepid global demand are headwinds for export oriented manufacturing. Third, the auto sector increasingly looks like it is at the top of its cycle and will not significantly increase production from here. Supporting the Michigan Index in March were payroll employment, house prices, auto production and sales tax receipts. Drags in the index in March came from exports, initial claims for unemployment insurance, housing starts, and hotel occupancy.”

The index remains 53 points, or 72 percent, above the index cyclical low of 74.0, hit at the bottom of the last recession. The index averaged 124.3 points for all of 2015, seven points above the index average for 2014.

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Comerica Michigan Biz Index Returns To Gains

DETROIT — Comerica Bank’s Michigan Economic Activity Index improved in February, increasing 0.5 percentage points to a level of 127.0.

The Michigan Economic Activity Index consists of eight variables: nonfarm payrolls, exports, hotel occupancy rates, continuing claims for unemployment insurance, housing starts, sales tax revenues, home prices, and auto production. All data are seasonally adjusted, and indexed to a base year of 2008. Nominal values have been converted to constant dollar values. Index levels are expressed in terms of three-month moving averages.

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Comerica Bank Michigan Index Shows Strong Gain For Third Month

DETROIT — Comerica Bank’s Michigan Economic Activity Index grew in June, increasing 1.9 percentage points to reach a level of 126.8.

The Michigan Economic Activity Index is made up of eight variables — nonfarm payrolls, exports, hotel occupancy rates, continuing claims for unemployment insurance, housing starts, sales tax revenues, home prices, and auto production. All data are seasonally adjusted, and indexed to the base year of 2008, which equals 100 on the index. Current dollar values are also converted to constant dollar values. Index levels are expressed in terms of three-month moving averages.

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