Michigan Economy Improves In December, Reports Comerica Bank's Michigan Economic Activity Index

   Michigan Economy Improves In December, Reports Comerica Bank's Michigan
                           Economic Activity Index

PR Newswire

DALLAS, Feb. 26, 2013

DALLAS, Feb. 26, 2013 /PRNewswire/ -- Comerica Bank's Michigan Economic
Activity Index saw a bounce back in December, rising 1.7 points to a level of
102.7. The December index reading is 43 points, or 71 percent, above the index
cyclical low of 59.9. The index averaged 103 for all of 2012, 12 points above
the index average for full-year 2011.

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"Although the Michigan index saw an uptick in its December level, to 102.7,
the index is still more than five points off of its recent July peak of 107.8.
Index components for December were mostly weak, with only motor vehicle
production and sales tax revenues notching positives for the month," said
Robert Dye, Chief Economist at Comerica Bank. "Auto sales remained solid
through January, even as other consumer spending suffered from increased
federal taxes. Looking ahead, Michigan remains vulnerable to reduced federal
spending, as well as slower growth in the manufacturing sector compared with
earlier in the recovery cycle."

The Michigan Economic Activity Index consists of seven variables, as follows:
nonfarm payrolls, exports, sales tax revenues, hotel occupancy rates,
continuing claims for unemployment insurance, building permits, and motor
vehicle production. All data are seasonally adjusted, as necessary, and
indexed to a base year of 2004. Nominal values have been converted to constant
dollar values. Index levels are expressed in terms of three-month moving
averages.

Comerica Bank, with 216 banking centers in Michigan, is a subsidiary of
Comerica Incorporated (NYSE: CMA), a financial services company headquartered
in Dallas, Texas, and strategically aligned by three business segments: The
Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on
relationships, and helping people and businesses be successful. In addition to
Michigan and Texas, Comerica Bank locations can be found in Arizona,
California, and Florida, with select businesses operating in several other
states, as well as in Canada and Mexico. To find Comerica on Facebook, please
visit www.facebook.com/ComericaCares.

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SOURCE Comerica Bank

Website: http://www.comerica.com
Contact: Media, Robert Dye, (214) 462-6839, radye@comerica.com; Data Contact,
Meaghan Derrick, (214) 462-6815, maderrick@comerica.com
 
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