The Michigan Economic Activity Index was flat in November, holding at 87 — the fourth time in five months it has been at that level.
The index was up 16 points from the low point in July 2009.
“Our Michigan index reading reinforced the flat trend that has emerged in the Michigan economy over the past five months,” Dana Johnson, the chief economist for Comerica Bank, said in a press release. Comerica compiles the index.
“Looking ahead to 2011, the Michigan economy is poised to make modest gains, fueled by increases in auto production and sales and against a background of gradually accelerating national growth.”
The index equally weighs nine seasonally adjusted indicators of economic activity, including the construction, manufacturing and service sectors; job growth; and consumer spending.