Michigan Index Up Again in March

                       Michigan Index Up Again in March

PR Newswire

DALLAS, May 30, 2013

DALLAS, May 30, 2013 /PRNewswire/ --Comerica Bank's Michigan Economic
Activity Index increased in March, up 1.8 points to a level of 119.9. The
March index reading is 49 points, or 68 percent, above the index cyclical low
of 71.2. The index averaged 114 for all of 2012, 11 points above the index
average for 2011. February's index reading was revised up from 117.8 to 118.1.

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"Our Michigan Index has gradually increased through the first three months of
2013, consistent with an improving national and regional economic climate. The
index components for March were mixed, with payrolls, state sales tax and
motor vehicle production stronger. Exports, hotel occupancy, unemployment
insurance claims and residential building permits were weaker," said Robert
Dye, Chief Economist at Comerica Bank. "It is good news for Michigan to see
auto assemblies increasing again, after flattening out at the start of the
year. I expect to see auto sales moderately increase through the year,
bolstered by improving conditions for residential real estate."

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 215 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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@Comerica_Econ.

SOURCE Comerica Bank

Website: http://www.comerica.com
Contact: Media Contact, Robert Dye, (214) 462-6839, radye@comerica.com; Data
Contact, Daniel Sanabria, (214) 462-6789, fdsanabria@comerica.com
 
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