Comerica Bank's Michigan Index Down Again in January

             Comerica Bank's Michigan Index Down Again in January

PR Newswire

DALLAS, March 25, 2014

DALLAS, March 25, 2014 /PRNewswire/ --Comerica Bank's Michigan Economic
Activity Index continued to decrease in January, down 1.6 percentage points to
a level of 125.6. January's reading is 54 points, or 74 percent, above the
index cyclical low of 72.1. The index averaged 126 for all of 2013, 12 points
above the index average for 2012. December's index reading was revised
slightly up from 127.1 to 127.2.

Comerica logo.

"Our Michigan Index fell again in January, its third consecutive decline.
Brutal weather has taken its toll on the Michigan economy this winter," said
Robert Dye, Chief Economist at Comerica Bank. "Automobile assemblies dropped
in January. This reflected both local weather conditions and the drag from
weaker-than-expected auto sales nationally. Payroll employment for Michigan
was essentially unchanged from June 2013 to January 2014. We expect U.S. auto
sales to improve this spring and that will be a positive for Michigan. House
prices are firming up statewide and that is also a broad support for the
state's economy."

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
averages.

Comerica Bank, with 214 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
visit www.facebook.com/ComericaCares.

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http://www.comerica.com/economics. Follow us on Twitter: @Comerica_Econ.

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SOURCE Comerica Bank

Website: http://www.comerica.com
Contact: Media, Robert Dye, (214) 462-6839, radye@comerica.com; or Data
Contact, Daniel Sanabria, (214) 462-6789, fdsanabria@comerica.com
 
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