Comerica Bank's Texas Index Flattens in 2013

                 Comerica Bank's Texas Index Flattens in 2013

PR Newswire

DALLAS, July 18, 2013

DALLAS, July 18, 2013 /PRNewswire/ --Comerica Bank's Texas Economic Activity
Index fell slightly in May, declining 0.1 percentage points to a level of
103.6. The May reading is 32 points, or 45 percent, above the index cyclical
low of 71.5. The index averaged 102 points for all of 2012, 10 points above
the average for full-year 2011. No revisions were made to April's index
reading of 103.7.


"Our Texas Index continues to level out in 2013. Some components of the index,
notably, payroll employment, have improved through the first five months of
the year. However, other components, such as hotel occupancy, residential
building permits and the rotary rig count have either stabilized or dipped so
far in 2013. The flattening of the index is consistent with a step down in the
rate of economic growth for Texas in mid-2013. This step down in economic
growth will be felt not only in Texas but in most other states as well, and
reflected in weak U.S. GDP growth through the second quarter of this year,"
said Robert Dye, Chief Economist at Comerica Bank. "I expect the Texas Index
to resume its upward trajectory as data comes in for the second half of the

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

Comerica Bank is the commercial banking subsidiary of Comerica Incorporated
(NYSE: CMA), the largest 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 136 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

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SOURCE Comerica Bank

Contact: Media, Robert Dye, +1-214-462-6839,, or Data
Contact: Daniel Sanabria, +1-214-462-6789,
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