Michigan Index Gains in February

                       Michigan Index Gains in February

PR Newswire

DALLAS, April 30, 2013

DALLAS, April 30, 2013 /PRNewswire/ -- Comerica Bank's Michigan Economic
Activity Index increased in February, up 0.1 points to a level of 117.8. The
February index reading is 47 points, or 66 percent, above the index cyclical
low of 70.9. The index averaged 114 for all of 2012, 11 points above the index
average for full-year 2011. January's index reading was revised up from 101.1
to 117.8.

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

"Our Michigan Index shows a gradual improving trend from late 2012 into early
2013, indicating that the Michigan economy is continuing to strengthen. The
index components were mixed for February, with payrolls, state sales taxes,
hotel occupancy and motor vehicle production stronger. Exports, unemployment
insurance claims and residential building permits were weaker," said Robert
Dye, Chief Economist at Comerica Bank. "U.S. auto sales have flattened out
through early 2013 as households react cautiously to fiscal tightening. I
expect to see auto sales moderately increase through the year, bolstered by
improving conditions for residential real estate. Positive signals from
commercial real estate markets are good news for western Michigan
manufacturers."

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 2008. 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, +1-214-462-6839, radye@comerica.com
 
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