Comerica Survey Reflects Improvement in Non-Auto Sector

Apr 04, 2001, 01:00 ET from Comerica Bank

    DETROIT, April 4 /PRNewswire/ -- Members of the National Association of
 Purchasing Managers-Metro Detroit, surveyed in March by Detroit-based Comerica
 Bank, reported a 2.0 point increase from February in overall business
 conditions for Southeast Michigan's industrial economy.
     Comerica's composite index stood at 40.0 in March, compared with 38.0 in
 February.  A year earlier, the index stood at 56.7.  "Despite the continuing
 contractive condition of the overall local industrial economy, the March
 survey reflected some improvement in the non-auto sector that could begin to
 lift general activity by midyear," said David L. Littmann, chief economist
 with Comerica Bank.  "We are seeing the first commodity price reductions in
 months."
     The index is a seasonally-adjusted, weighted average measure of new orders
 and production activity, employment, inventories, and promptness of supplier
 deliveries.  It ranges from zero to 100.  A composite index below 50 generally
 means conditions are deteriorating; levels above 50 denote expansion.
 
                              AUTO             NON-AUTO           TOTAL
                         FEB.      MARCH    FEB.    MARCH      FEB.    MARCH
     NAPM-MD
 
     Composite Index     32.2       32.5    42.1     50.2      38.0     40.0
 
      Production         21.4       38.1    40.6     44.1      33.0     40.8
      New Orders         33.3       31.0    41.9     68.8      38.5     47.3
      Inventories        35.0       42.9    33.9     58.8      34.3     50.0
      Employment         28.6       16.7    42.4     30.6      37.0     23.1
      Vendor Performance 50.0       47.6    46.9     52.8      48.1     50.0
      Prices             52.5       42.5    53.0     52.8      52.8     47.4
 
     Weighting           38.9       53.8    61.1     46.2     100.0    100.0
 
     Comerica's composite index is based on surveys of local purchasing
 managers belonging to the 500-member National Association of Purchasing
 Management-Metro Detroit.
     Comerica Bank, the oldest and largest bank in Michigan, is a subsidiary of
 Comerica Incorporated (NYSE:   CMA), a multi-state financial services provider
 headquartered in Detroit, with banking subsidiaries in Michigan, California,
 and Texas, banking operations in Florida, and businesses in several other
 states.  Comerica has an investment services affiliate, Munder Capital
 Management, and operates banking subsidiaries in Canada and Mexico.
 
 

SOURCE Comerica Bank
    DETROIT, April 4 /PRNewswire/ -- Members of the National Association of
 Purchasing Managers-Metro Detroit, surveyed in March by Detroit-based Comerica
 Bank, reported a 2.0 point increase from February in overall business
 conditions for Southeast Michigan's industrial economy.
     Comerica's composite index stood at 40.0 in March, compared with 38.0 in
 February.  A year earlier, the index stood at 56.7.  "Despite the continuing
 contractive condition of the overall local industrial economy, the March
 survey reflected some improvement in the non-auto sector that could begin to
 lift general activity by midyear," said David L. Littmann, chief economist
 with Comerica Bank.  "We are seeing the first commodity price reductions in
 months."
     The index is a seasonally-adjusted, weighted average measure of new orders
 and production activity, employment, inventories, and promptness of supplier
 deliveries.  It ranges from zero to 100.  A composite index below 50 generally
 means conditions are deteriorating; levels above 50 denote expansion.
 
                              AUTO             NON-AUTO           TOTAL
                         FEB.      MARCH    FEB.    MARCH      FEB.    MARCH
     NAPM-MD
 
     Composite Index     32.2       32.5    42.1     50.2      38.0     40.0
 
      Production         21.4       38.1    40.6     44.1      33.0     40.8
      New Orders         33.3       31.0    41.9     68.8      38.5     47.3
      Inventories        35.0       42.9    33.9     58.8      34.3     50.0
      Employment         28.6       16.7    42.4     30.6      37.0     23.1
      Vendor Performance 50.0       47.6    46.9     52.8      48.1     50.0
      Prices             52.5       42.5    53.0     52.8      52.8     47.4
 
     Weighting           38.9       53.8    61.1     46.2     100.0    100.0
 
     Comerica's composite index is based on surveys of local purchasing
 managers belonging to the 500-member National Association of Purchasing
 Management-Metro Detroit.
     Comerica Bank, the oldest and largest bank in Michigan, is a subsidiary of
 Comerica Incorporated (NYSE:   CMA), a multi-state financial services provider
 headquartered in Detroit, with banking subsidiaries in Michigan, California,
 and Texas, banking operations in Florida, and businesses in several other
 states.  Comerica has an investment services affiliate, Munder Capital
 Management, and operates banking subsidiaries in Canada and Mexico.
 
 SOURCE  Comerica Bank

RELATED LINKS

http://www.comerica.com