The stochastic resonance (SR) phenomenon induced by a multiplicative periodic signal in a logistic growth model with correlated noises is studied by using the theory of signal-to-noise ratio (SNR) in the adiabatic limit. The expressions of the SNR are obtained. The effects of multiplicative noise intensity α and additive noise intensity D, and correlated intensity λ on the SNR are discussed respectively. It is found that the existence of a maximum in the SNR is the identifying characteristic of the SR phenomena. In comparison with the SR induced by additive periodic signal, some new features are found: (1) When SNR as a function of λ for fixed ratio of α and D, the varying of α can induce a stochastic multi-resonance, and can induce a re-entrant transition of the peaks in SNR vs λ; (2) There exhibits a doubly critical phenomenon for SNR vs D and λ, i.e., the increasing of D (or λ) can induce the critical phenomenon for SNR with respect to λ (or D); (3) The doubly stochastic resonance effect appears when α and D are simultaneously varying in SNR, i.e., the increment of one noise intensity can help the SR on another noise intensity come forth.