Michigan Economy Flat In January, Reports Comerica Bank's Michigan Economic Activity Index

 Michigan Economy Flat In January, Reports Comerica Bank's Michigan Economic
                                Activity Index

PR Newswire

DALLAS, March 26, 2013

DALLAS, March 26, 2013 /PRNewswire/ --Comerica Bank's Michigan Economic
Activity Index was essentially unchanged in January, up 0.1 points to a level
of 103.0. The January index reading is 43 points, or 72 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. December's index reading was
revised from 102.7 to 102.9.

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"Following a strong December, our Michigan Index was mostly flat in January.
The index components were mixed, with payrolls, hotel occupancy, construction
and motor vehicle production stronger. Exports, sales tax revenues and claims
were weaker," said Robert Dye, Chief Economist at Comerica Bank. "Auto sales
have remained solid through the first two months of 2013, 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

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

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 Incorporated

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