Comerica Bank's California Index Eases in June

                Comerica Bank's California Index Eases in June

PR Newswire

DALLAS, Aug. 27, 2013

DALLAS, Aug. 27, 2013 /PRNewswire/ -- Comerica Bank's California Economic
Activity Index eased in June, decreasing 0.5 percentage points to a level of
105.9. June's reading is 33 points, or 46 percent, above the index cyclical
low of 72.7. The index averaged 101 points for all of 2012, three points above
the average for all of 2011. May's index reading was revised slightly down
from 106.6 to 106.4.

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"Our California Index declined slightly in June primarily as a result of
recent monthly fluctuations in residential building permits. With the housing
industry coming back from the dead, I expect housing-related data to remain
somewhat volatile for the remainder of the year. Most other components of our
California Index were positive or neutral in June," said Robert Dye, Chief
Economist at Comerica Bank. "Payroll employment in June was even with May, but
that key indicator remains on an upward trend. July payroll data, which does
not appear in our June index, was positive for California."

The California Economic Activity Index consists of eight variables, as
follows: nonfarm payrolls, exports, sales tax revenues, hotel occupancy rates,
continuing claims for unemployment insurance, building permits, Baker Hughes
rotary rig count and the Silicon Valley 150 Index (SV150). 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 105 banking centers in the key California markets of San
Francisco and the East Bay, San Jose, Los Angeles, Orange County, San Diego,
Fresno, Sacramento, Santa Cruz/Monterey, and the Inland Empire, is a
subsidiary of Comerica Incorporated (NYSE: CMA). Comerica is a financial
services company headquartered in Dallas, Texas, and strategically aligned
into three major business segments: the Business Bank, the Retail Bank, and
Wealth Management. Comerica focuses on relationships and helping businesses
and people be successful. 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, (214) 462-6839, radye@comerica.com, or Data,
Daniel Sanabria, (214) 462-6789, fdsanabria@comerica.com
 
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