Breaking News

Tweet TWEET

Comerica Bank's Texas Index Cooled in January

                Comerica Bank's Texas Index Cooled in January

PR Newswire

DALLAS, March 25, 2014

DALLAS, March 25, 2014 /PRNewswire/ --Comerica Bank's Texas Economic Activity
Index decreased 0.9 percentage points in January to a level of 110.2. The
January reading is 39 points, or 54 percent, above the index cyclical low of
71.6. The index averaged 105 points for all of 2013, three points above the
average for full-year 2012. December's index reading was unchanged at 111.1.

Comerica logo.

"Our Texas Index cooled slightly in January, due to volatility in residential
buildings permits. Permits from November through January eased after spiking
last October. The overall trend in residential building permits still looks
good, reflecting the strong Texas economy," said Robert Dye, Chief Economist
at Comerica Bank. "Most other components of our Texas index were positive in
January, including payroll job growth and the drilling rig count. After some
winter-weather-related drag, the broader U.S. economy is improving and this
will be a positive for Texas this spring."

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
averages.

Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), the
largest U.S. 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
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.

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

SOURCE Comerica Bank

Website: http://www.comerica.com
Contact: Robert Dye, (214) 462-6839, radye@comerica.com, or Data Contact,
Daniel Sanabria, (214) 462-6789, fdsanabria@comerica.com
 
Press spacebar to pause and continue. Press esc to stop.