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David Littmann is marking 30 years as an economist.
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271 MERRILL
BIRMINGHAM • 48009
(248) 646-0535
But in the battle for customers, banks
are always looking for a marketing
edge. "We need a way of distinguish-
ing our green stuff from somebody
else's green stuff," Littmann says. The
economic reports developed by the
economist and his department pro-
vide that marketing edge.
Over the years Littmann has devel-
oped several original forecasting tools.
For predicting the national economy,
Littmann developed Recession Watch
Index, a 12-month report, and
Sentinel, which gives a snapshot of
current conditions.
Littmann has also developed a
series of reports that are of specific
interest to Detroit, and to Michigan.
He calls the monthly Detroit Area
Business Activity Index, which he
developed in 1971, "the granddaddy
of them all." The index uses data
going back to 1957. The Detroit
Comeback Index, published quarterly,
monitors the economic expansion and
the renaissance of the city
eel ings about our government, personal
eagerly shares at numerous speaking engage-
wspapers, and as a guest on radio and television
-szAk's,
'' –
10001110
that is liberating," he says, "with better incen-
vin
That s not the direction that the two major
our country, he believes.
way to increase individual prosperity is to
o e pie. Two major actions could make that pie
of from our crushing tax burden," and a
et economy with the abundance and prosperity it
ur tax;burden rose to an all-time record of 21.3 percent of
c' product," the economist says. "The average worker works for
erself until Aug. 22, and the rest of the year sends all income to
er level of government."
ints to Europe and other areas of the world where excessive
nment regulation of the marketplace has resulted in eco-
to liberty; enterprise and personal responsi-
a
ti ',wake its full potential, he says. ❑
d
8/25
2000
72
The Michigan Business Activity
Index, developed by Littmann in
1975, also uses data going back to
1957. The Michigan Tourism Index,
tracking one of the state's most
important economic sectors, draws on
20 years of data. The Purchasing
Management Index, developed in
1985, provides the earliest warning of
problems in the economy.
"The Comerica research library has
been a tremendous resource in devel-
oping these tools," he says.
Littmann is in high demand as a
commentator on economic issues,
with numerous speaking engagements
before business and community
groups, appearing on television and
radio talk shows, and writing articles
for newspapers. He is connected with
several prominent conservative think-
tanks, including the Heartland
Institute, the Cato Institute, the
Mackinaw Center, the Political
Economy Resource Center and oth-
ers.
He is also a member of the
Economic Advisory Committee of the
American Banking Association, which
reports regularly to Federal Reserve
Chairman Alan Greenspan. In
September, he will begin a one-year
appointment as vice chairman of the
committee, and in September 2001 will
become committee chairman.
For 25 of the 30 years that
Littmann has been plotting trends
and developing economic reports for
the bank, he's been deeply committed
to another growth business as well —
growing African violets.
"Gardening is my hobby," he says. "I
have African violets all over the office,
and an incubation area where I can start
new plants." He gardens at his home in
Bloomfield Hills, too, but there he cul-
tivates vegetables and herbs, not flowers.
His wife is in charge of the flower gar-
dening at home.
"My vegetable garden is not big
enough, but too big," he says, laugh-
ing at the contradiction. There are
several plots in cultivation, the largest
being 12 by 12 feet. He's especially
proud of his tomatoes, his green
beans, and his gooseberries, from
which Esther Littmann makes a terrif-
ic gooseberry pie.
But Mrs. Littmann's accomplish-
ments go well beyond the ability to
bake a mean pie. With a Ph.D. in
German literature, she has enjoyed a
distinguished career in education. The
Littmanns have three married chil-
dren and one grandchild, with anoth-
er on the way. ❑