"The local economy has softened a bit over the past several months in reaction to elevated energy prices, higher short-term interest rates, and the ongoing consolidation of the auto industry," says Dana Johnson, chief economist at Comerica Bank. "The Super Bowl should give us a boost this winter, but the fundamentals point to continued lagging performance in 2006."
The index is compiled from eight different measures of regional activity which are seasonally adjusted, corrected for inflation, and expressed as an index, with 1996 as base year equal to 100. The economics department of Comerica Bank has calculated the DABAI monthly since 1957; depicting Metro-Detroit's economy over seven full swings of the US business cycle.
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