Comerica Bank's California Index Eases in July

                Comerica Bank's California Index Eases in July

PR Newswire

DALLAS, Sept. 24, 2013

DALLAS, Sept. 24, 2013 /PRNewswire/ -- Comerica Bank's California Economic
Activity Index eased in July, decreasing 1.6 percentage points to a level of
104.4. July's reading is 32 points, or 44 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. June's index reading was revised up from 105.9 to
106.0.

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"Our California Index declined again in July reflecting the mixed bag of
factors contributing to improving, but uneven, growth in the California
economy. The stock market index, based on prices for Silicon Valley companies,
strengthened through the summer after dipping early in the year. This is
contributing to ongoing economic growth in Northern California," said Robert
Dye, Chief Economist at Comerica Bank. "Labor markets are generally improving
and residential real estate prices are firming statewide, so conditions look
favorable for ongoing moderate economic expansion."

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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@Comerica_Econ.

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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