Monthly Archives: June 2012

Comerica Economic Weekly

Economic data from the last week of the second quarter show a U.S. economy limping into the summer with little prospect of a sudden reacceleration. Monthly job gains have averaged only 96,000 for March through May, keeping wage and salary … Continue reading

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May Income and Spending, Durable Goods, UI Claims

Weak Job Growth = Weak Income Growth = Weak Spending Growth = Weak GDP U.S. Personal Income increased by 0.2 percent in May, held in check by weak hiring. Personal Consumption Expenditures were unchanged, before adjusting for inflation.  The PCE … Continue reading

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Arizona Economy Grows in April

Comerica Bank’s Arizona Economic Activity Index rose 1.1 percentage points in April, to a level of 85.4. The April reading is 14 points, or 20 percent, above the index cyclical low of 71.0.  Year-to-date the index has averaged 84 points, … Continue reading

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May New Home Sales, June Regional MF Surveys, April House Prices

Housing Takes Baton from Manufacturing in Economic Relay New Home Sales for May increased by 7.6 percent, to a 369,000 unit sales rate. The Case-Shiller 20-City Composite House Price Index increased by 0.7 percent in June. The Dallas Fed’s Manufacturing … Continue reading

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Comerica Economic Weekly

Economic data released in the third week of June was mixed as the euro-zone crisis, cooler Asia and the threat of the Fiscal Cliff chilled business confidence at the start of summer. The Greek election last weekend put the question … Continue reading

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May Leading Indicators, Existing Home Sales, June UI Claims, FOMC

Fed to Congress…Your Turn The Leading Economic Index for May increased by 0.3 percent as housing permits surged. Existing Home Sales fell slightly by 1.5 percent in May to a 4.55 million unit annual rate. Initial Claims for Unemployment Insurance … Continue reading

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Florida Economy Edges Up in April

Comerica Bank’s Florida Economic Activity Index increased marginally in April, up 0.3 percent to a level of 109.8. The April reading is 29 points, or 36 percent, above the index cyclical low of 80.6. Year-to-date the index has averaged 108, … Continue reading

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Michigan Index Declines in April

Comerica Bank’s Michigan Economic Activity Index declined in April, falling 0.9 points to a level of 102.0. The April index reading is 43 points, or 72 percent, above the index cyclical low of 59.9. The index has averaged 101 points … Continue reading

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California Economy Expands in April

Comerica Bank’s California Economic Activity Index rose roughly one point to a level of 101.9 in April. April’s reading is 29 points, or 39 percent, above the index cyclical low of 73.2. Year-to-date the index has averaged 100, one point … Continue reading

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May Residential Construction, April JOLTS

Permits Swell in May but Starts Went Away Housing Starts for May decreased by 4.8 percent to a 708,000 unit annual rate. Permits for new residential construction increased by 7.9 percent to a 780,000 unit rate. The Jobs Openings and … Continue reading

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