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California Economy Dips In August, Reports Comerica Bank's California Economic Activity Index

California Economy Dips In August, Reports Comerica Bank's California Economic
                                Activity Index

PR Newswire

DALLAS, Oct. 30, 2012

DALLAS, Oct. 30, 2012 /PRNewswire/ -- Comerica Bank's California Economic
Activity Index dipped 0.5 percentage points in August, declining to a level of
104.7. August's reading is 32 points, or 43 percent, above the index cyclical
low of 73.2. Year-to-date the index has averaged 102, three points above the
average for all of 2011.


"Our California Economic Activity Index for August paid back some of the
nearly two point gain from the previous month," said Robert Dye, Chief
Economist at Comerica Bank. "State payroll job growth has flattened recently,
while manufacturing activity slowed through the summer. Oil and gas drilling
activity has also eased. On the positive side, housing markets are looking
firmer, particularly in Northern California, and this is providing broad-based
support for the California economy."

The California Economic Activity Index consists of eight variables, as
follows: nonfarm payrolls, exports, sales tax revenues, hotel occupancy rates,
continuing claims for unemployment insurance, building permits, Baker Hughes
rotary rig count and the Silicon Valley 150 Index (SV150).  All data are
seasonally adjusted, as necessary, and indexed to a base year of 2008. Nominal
values have been converted to constant dollar values. Index levels are
expressed in terms of three-month moving averages.

Comerica Bank, with 105 banking centers in the key California markets of San
Francisco and the East Bay, San Jose, Los Angeles, Orange County, San Diego,
Fresno, Sacramento, Santa Cruz/Monterey, and the Inland Empire, is a
subsidiary of Comerica Incorporated (NYSE: CMA).  Comerica is a financial
services company headquartered in Dallas, Texas, and strategically aligned
into three major business segments: the Business Bank, the Retail Bank, and
Wealth Management. Comerica focuses on relationships and helping businesses
and people be successful. To find Comerica on Facebook, please visit Follow Comerica Chief Economist Robert Dye on
Twitter at @Comerica_Econ.

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SOURCE Comerica Bank

Contact: Media, Robert Dye, +1-214-462-6839,, Data, Meaghan
Derrick, +1-214-462-6815,
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