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Comerica Bank: Michigan economy gaining steam

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DALLAS (WKZO) -- The Michigan economy is gaining steam.

Comerica Bank's latest Michigan Economic Activity Index shows July rising to levels not seen since November 2002.  Chief Economist Robert Dye says job creation picked up, housing markets are improving and the August vehicle sales figures picked up to rate of 14.5-million units for the year.

Comerica's Michigan Economic Activity Index bottomed out in the summer of 2009, and the state has been steadily improving since then.