Florida Index Increases in February
DALLAS, May 2, 2013
DALLAS, May 2, 2013 /PRNewswire/ --Comerica Bank's revised Florida Economic
Activity Index increased in February, to a level of 109.0. The February index
reading is 31 points, or 40 percent, above the index cyclical low of 78.0. The
index averaged 103 in 2012, 10 points above the average for all of 2011.
December's index reading was revised to 107.2.
"Our Florida Economic Activity Index increased in February, consistent with
signs of improving economic conditions in the Sunshine State. Most index
components were positive for the month. Only exports and hotel occupancy
dipped in February," said Robert Dye, Chief Economist at Comerica Bank. "Labor
conditions are improving, and house prices are firming up, and those are two
key positive factors for the Florida economy."
The Florida 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 house
prices. 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.
In addition to Boca Raton, East Boca Raton, Fort Lauderdale, Naples, Palm
Beach Gardens, Singer Island, Sarasota, Stuart, and Wellington, Florida,
Comerica (NYSE: CMA) locations can be found in its headquarters state of
Texas, as well as in Arizona, California 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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SOURCE Comerica Bank
Contact: Robert Dye, (214) 462-6839, firstname.lastname@example.org
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