Small Business Administration. That is the
fourth time in the last five months that our index produced a reading of 106.

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S. DETROIT, The Michigan Business Activity
Index compiled by Comerica Bank was unchanged in January at 106.newscom.
Comerica Bank, the largest bank in Michigan, is a subsidiary of Comerica
Incorporated (NYSE: CMA).

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"The good news
is that the state economy is holding up reasonably well, despite the
aggressive restructuring in the auto manufacturing sector.

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Report Documents 2004 as a Good Year for Small Business

This year's report includes a paper from Dr. William Baumol, a renowned
economist specializing in entrepreneurship.

Michigan Economy Still Moving Sideways: Comerica Bank's Michigan Business Activity Index

sociological foremost

Key segments focus on the economic environment, regulations,
innovation, tax policy, minority and veteran entrepreneurship, federal
government procurement, and small business financing data.

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The
presidentially appointed Chief Counsel for Advocacy advances the views,
concerns, and interests of small business before Congress, the White House,
federal agencies, federal courts, and state policy makers.

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The paper, "Small Firms: Why
Market-Driven Innovation Can't Get Along Without Them," examines the reasons
why small firms have contributed a critical share of radical innovative
breakthroughs .sba.

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The report also contains a paper authored by Advocacy economists Drs.
The Office of Advocacy, the "small business watchdog" of the government,
examines the role and status of small business in the economy and
independently represents the views of small business to federal agencies ,
Congress, and the President.

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Headquartered in Detroit, Comerica is strategically
aligned by the Business Bank, Retail Bank, and Wealth + Institutional
Management.comerica.

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Radwan Saade and Joe Johnson on the benefits of a more simple and predictable
tax code. For more
information, visit http://www."
The Michigan Business Activity Index (MBAI) represents ten different
measures of Michigan economic activity compiled monthly by the Economics
Department of Comerica Bank.

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"2004 was a good year for American small business," said Dr.
The MBAI series has been calculated monthly since 1957 and depicts state
economic activity over seven full swings of the U.com/econsubscribe to subscribe.

economics consequences

Small Business Administration (SBA) is
an independent voice for small business within the federal government.

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gov/advo, or call (202) 205-6533.

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Comerica reported total assets of $53.

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The disappointment
is that Michigan continues to badly lag the national economy. business cycle.

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" He made the remarks at the report's release before the National
Economists Club.
The comprehensive report examines the role small business plays in the
economy. It is the source for small business statistics
presented in user-friendly formats and it funds research into small business
issues. The MBAI is seasonally adjusted, corrected for
inflation, and expressed as an index, with 1996 as base year equal to 100.

economics superiors

Chad Moutray,
Chief Economist for the Office of Advocacy . "The economic environment
fostered entrepreneurial activity.

actually consumerism

For more information and a complete copy of the report, visit the Office
of Advocacy website at http://www.gov/advo.

The Office of Advocacy of the U. Comerica focuses on relationships, and helping businesses and
people be successful.

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S.

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To receive this index directly to your email inbox, go to
http: //www.

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The gross domestic product increased, the
economy added jobs, and new employer firms and the number of self-employed
increased.sba.

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The report, The Small Business Economy
2005 Edition, documents the state of small business and its contributions to
the economy using the latest data for 2004.

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S.
(Logo: http://www.0 billion at
December 31, 2005.

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Examines the Economic Environment , Entrepreneurship, and Innovation

WASHINGTON, American small business had a good year
in 2004, according to a report issued today by the Office of Advocacy of the
U.com/cgi-bin/prnh/20010807 /CMALOGO )
"For the past two years, the Michigan economy has been trending sideways,"
according to Dana Johnson, chief economist at Comerica Bank.

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