Comerica Bank's Michigan Index Dips in August

                Comerica Bank's Michigan Index Dips in August

PR Newswire

DALLAS, Oct. 22, 2013

DALLAS, Oct. 22, 2013 /PRNewswire/ -- Comerica Bank's Michigan Economic
Activity Index decreased in August, down 1.3 percentage points to a level of
125.4. August's reading is 53 points, or 74 percent, above the index cyclical
low of 72.1. The index averaged 114 for all of 2012, 11 points above the index
average for 2011. July's index reading was revised down from 126.8 to 126.7.


"Our Michigan Index ticked down in August even though the majority of the
components of the index were positive for the month. Volatile residential
construction data and sales tax data brought the index down. However, payroll
job growth remains steady and vehicle assemblies have been strong," said
Robert Dye, Chief Economist at Comerica Bank. "Auto sales dipped in September
after a strong August. I expect the trend in auto sales to continue to improve
and that would be supportive of ongoing gains in payroll employment."

*State level exports data have not been reported for August due to the federal
government shut-down. We estimated an August export number in order to
calculate the total index.

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

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

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SOURCE Comerica Bank

Contact: Media Contact: Robert Dye, (214) 462-6839,; Data
Contact: Daniel Sanabria, (214) 462-6789,
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