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Report shows state's economy stays stalled

Published: July 13, 2009

Comerica Bank's Michigan Business Activity Index declined two points on a preliminary basis in May, to a level of 72. Compared to a year earlier, the index is down 19 points, making May the eighth month for double-digit year-on-year declines. This ties the index record for such declines, with the only other eight-month string of double-digit declines occurring during the severe 1958 recession. Year-to-date the index has averaged 73, down 14 points from the 2008 average.

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