Monthly Archives: March 2012

U.S. Economic Update, March 2012

 Green Shoots Starting to Blossom Federal Reserve Chairman Ben Bernanke used the term “green shoots” in March 2009 to describe a U.S. economy that was showing signs of pulling out of the Great Recession. Over the intervening three years since … Continue reading

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FOMC Policy Announcement, February Retail Sales

FOMC’s Tone Improves, No Changes to Policy  According to today’s FOMC policy announcement, Fed policy will remain unchanged from January 25. The FOMC remains committed to zero interest rate policy through late-2014. U.S. economic conditions improved through early 2012. Recent … Continue reading

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Comerica Economic Weekly

With this week’s data we can continue the theme of better over here and worse over there, meaning U.S. economic conditions continue to improve while international conditions remain stressed.  In the February employment numbers we see strengthening U.S. labor markets, … Continue reading

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February U.S. Employment, January U.S. International Trade

       More Better Over Here, More Worse Over There The February Payroll Employment Survey showed another solid gain, up 227,000 jobs for the month. The separate Household Survey posted an outsized increase of 428,000 jobs in February.   The Unemployment Rate … Continue reading

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Michigan Economy Improves in December

Comerica Bank’s Michigan Economic Activity Index rose two points in December, up to a level of 91.  The December index level is 31 points, or 52 percent, above the index cyclical low of 60. The index averaged 91 points in … Continue reading

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Texas Economy Ticks Up in December

Comerica Bank’s Texas Economic Activity Index rose one point in December, to a level of 93.  December’s reading is 21 points, or 29 percent, above the index cyclical low of 72. The Texas index averaged 90 points for all of … Continue reading

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California Economy Flat in December

Comerica Bank’s California Economic Activity Index held flat for the fifth straight month in December, at a level of 99.  December’s reading is 36 percent, or 26 points, above the index cyclical low of 73.  The index averaged 99 points … Continue reading

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Comerica Economic Weekly

U.S. data from the last week of February ranged from moderately disappointing to very positive. We remain on course for weak-to-moderate expansion in Q1. Recently higher gasoline prices are not yet high enough to derail the economy. The second estimate … Continue reading

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Jan. Income and Spending, Construction Spending, Feb. ISM-MF, Claims

                          Cool Reports but no Backsliding, Labor Data Solid U.S. Personal Income increased by 0.3 percent in January as wage income gained 0.4 percent. After inflation and taxes, Real Disposable Income decreased by 0.1 percent in January. Personal Consumption Expenditures … Continue reading

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