Comerica Bank's California Index Dips in January

               Comerica Bank's California Index Dips in January

PR Newswire

DALLAS, March 24, 2014

DALLAS, March 24, 2014 /PRNewswire/ --Comerica Bank's California Economic
Activity Index declined in January, down 1.6 percentage points to a level of
110.1. January's reading is 37 points, or 51 percent, above the index cyclical
low of 72.7. The index averaged 106 points for all of 2013, five points above
the average for all of 2012. December's index reading was revised slightly up
from 111.4 to 111.7.

Comerica logo.

"Our California Economic Activity Index dipped in January as most index
components eased. Payroll job growth in California has temporarily stalled,
showing little change from November through January. Residential building
permits also eased in January after solid gains over the previous three
months," said Robert Dye, Chief Economist at Comerica Bank. "Increasing
private construction activity and firming property prices are a fundamental
positive for California. Also, the tech sector continues to be a strong
performer. The Silicon Valley 150 stock index was up 17 percent in January
over the previous 12 months. We expect the California economy to improve
through 2014."

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.

To subscribe to our publications or for questions, contact us at
ComericaEcon@comerica.com. Archives are available at
http://www.comerica.com/economics. Follow us on Twitter: @Comerica_Econ.

Photo - http://photos.prnewswire.com/prnh/20010807/CMALOGO

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
 
Press spacebar to pause and continue. Press esc to stop.