Monthly Archives: December 2011

FOMC Policy Announcement

No Changes to Fed Policy, All Eyes on Europe  According to today’s FOMC policy announcement, Fed policy will remain unchanged from November 2. The FOMC repeated its view that the Fed funds rate would remain near zero at least through … Continue reading

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Nov. Retail Sales and NFIB Survey, Oct. Job Openings and Inventories

Shoppers Catch Their Breath, Small Business Sentiment Improves Retail Sales for November increased by a mildly disappointing 0.2 percent, October was revised up. November Ex-auto Retail Sales increased by 0.2 percent. Motor Vehicle sales gained 0.5 percent. The National Federation … Continue reading

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Comerica Economic Weekly

 It was a quiet week for U.S. data, but a busy week for European politicians and financial engineers. U.S. data is generally improving through the fourth quarter, visible this week through favorable trade data, unemployment insurance claims and consumer sentiment. … Continue reading

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Oct. International Trade, Dec. UI Claims, Nov. KC Fed Financial Stress

                                 Trade Gap Narrows, Q4 U.S. Data Continues to Improve The U.S. International Trade gap narrowed in October to -$43.5 billion; its fourth consecutive narrowing. Initial Claims for Unemployment Insurance fell by 23,000 down to 381,000 for the week ending … Continue reading

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U.S. Data Continues to Improve , Euro-drag Still Looms

Third quarter real GDP growth was revised down from 2.5 percent to now 2.0 percent, primarily reflecting weaker than expected inventory growth. Current fourth quarter domestic economic indicators have generally been a little better than expected. The auto sector has … Continue reading

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Michigan Economy Ticks Up in September

Comerica Bank’s Michigan Economic Activity Index rose one point in September, to a level of 88.  The September index level is 17 points, or 24 percent, above the index cyclical low of 71.  Year-to-date the index has averaged 87 points, … Continue reading

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Comerica Economic Weekly

The U.S. economy added 120,000 payroll jobs in November according to the official BLS employment report; about as expected. The unemployment rate fell significantly from 9.0 percent in October to 8.6 percent, the lowest it has been since March 2009. … Continue reading

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Nov. Employment, ISM Manufacturing, Vehicle Sales, Oct. Construction

 Better U.S. Data Begs the Question…Decoupled? No! The November Payroll Employment Survey showed a moderate net gain of 120,000 jobs for the month. The separate Household Survey showed another robust increase, adding 278,000 jobs. The Unemployment Rate ticked down to … Continue reading

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California Economy Drops in September

Comerica Bank’s California Economic Activity Index dropped in September, falling two points to a level of 100.  September’s reading is six percent above the index cyclical low of 94.  Year-to-date the index has averaged 102, two points below the 104 … Continue reading

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Texas Economy Stronger in September

Comerica Bank’s Texas Economic Activity Index reversed a one point dip in August, rising to a level of 99 in September.  September’s reading is 16 points, or 19 percent, above the index cyclical low of 83.  Year-to-date the index has … Continue reading

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