Texas Economy Rises In December, Reports The Comerica Bank Texas Economic Activity Index

  Texas Economy Rises In December, Reports The Comerica Bank Texas Economic
                                Activity Index

PR Newswire

DALLAS, Feb. 27, 2013

DALLAS, Feb. 27, 2013 /PRNewswire/ --Comerica Bank's Texas Economic Activity
Index increased by 1.2 percentage points in December, rising to a level of
101.3. The December index reading is 30 points, or 41 percent, above the index
cyclical low of 71.7. The index averaged 98 points for all of 2012, eight
points above the index average for full-year 2011.

(Logo: http://photos.prnewswire.com/prnh/20010807/CMALOGO)

"Our Texas index increased for the fourth consecutive month in December, to
its highest point since August 2008. However, index components were mixed in
December, with drilling activity continuing to slow down," said Robert Dye,
Chief Economist at Comerica Bank. "Downside risks related to further cuts in
federal spending could negatively impact the Texas economy in 2013. Housing
markets continue to tighten, supporting prices and encouraging builders."

The Texas 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 Baker
Hughes rotary rig count. 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 is the commercial banking subsidiary of Comerica Incorporated
(NYSE: CMA), the largest U.S. commercial bank headquartered in Texas,
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 139 banking
centers in Dallas/Fort Worth, Houston, Austin, San Antonio and Kerrville
regions of Texas, Comerica Bank locations can be found in Arizona, California,
Florida and Michigan, 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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@Comerica_Econ.

SOURCE Comerica Bank

Website: http://www.comerica.com
Contact: Media, Robert Dye, +1-214-462-6839, radye@comerica.com, Data, Meaghan
Derrick, +1-214-462-6815, maderrick@comerica.com
 
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