By AP
LANSING, MI –
A Comerica Bank economist says an index measuring Michigan's economy hit a two-year high in September.
The bank's Michigan Economic Activity Index rose to 89, its highest point since June 2008. That's up two points from August and 14 points from a year ago.
Chief economist Dana Johnson said Monday that the third quarter's upward trend came after growth stalled from February through June. He expects the state's economy to make modest gains over the last three months of 2010.
The index reflects activity in construction, manufacturing and services as well as job growth and consumer purchases.
Michigan's 13 percent seasonally adjusted unemployment rate is the nation's second highest.
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