Monthly Archives: December 2012

November Existing Home Sales, Leading Indicators, December UI Claims, Q3 GDP

Q3 Was a Flash in the Pan, GDP Growth Likely Cooled in Q4  Existing Home Sales for November increased by 5.9 percent, to a 5.0 million unit annual rate. The Leading Economic Index for November decreased by 0.2 percent, after … Continue reading

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Texas Index Higher in October

Comerica Bank’s Texas Economic Activity Index rose 0.6 points in October, to a level of 99.5. The October index reading is 28 points, or 39 percent, above the index cyclical low of 71.7. The index has averaged 98 points thus … Continue reading

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California Economy Edges Down in October

Comerica Bank’s California Economic Activity Index declined 0.5 percentage points in October, falling to a level of 103.7. October’s reading is 31 points, or 42 percent, above the index cyclical low of 73.2. Year-to-date the index has averaged 103, four … Continue reading

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November Residential Construction, December Mortgage Apps

Permits Continue to Gain, Starts Stalled in November Housing Starts for November decreased by 3.0 percent to an 861,000 unit annual rate. Permits for new residential construction continued to increase in November, up 3.6 percent to 899,000. Mortgage Applications for … Continue reading

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Florida Economy Gains in October

Comerica Bank’s Florida Economic Activity Index rose 1.1 percentage points in October, to a level of 112.7. The October index reading is 32 points, or 40 percent, above the index cyclical low of 80.6. Year-to-date the index has averaged 109, … Continue reading

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Michigan Economic Index Drops in October

Comerica Bank’s Michigan Economic Activity Index dipped lower in October, dropping 2.7 points, to a level of 100.6. The October index reading is 41 points, or 68 percent, above the index cyclical low of 59.9. The index has averaged 103 … Continue reading

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Comerica Economic Weekly

A lot happened this week. Most significantly, on Wednesday the Federal Reserve took several major steps. As expected, it announced that Operation Twist ends this month. The Fed will now add T-bonds to its program of outright bond purchases known … Continue reading

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November Consumer Prices, Industrial Production/Capacity Utilization

Energy Prices Fell as Production Rebounded From Sandy The November Consumer Price Index declined by 0.3 percent as energy prices fell. The November Core CPI increased by 0.1 percent, gaining 1.9 percent over the previous 12 months. Industrial Production increased … Continue reading

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November Retail Sales, Producer Prices, December UI Claims

Sandy Skews Sales, Energy Prices Fall, Claims Drop  November Retail Sales increased by 0.3 percent, weighed down by service station sales. Ex-auto Retail Sales were unchanged. Motor vehicles and parts sales increased by 1.4 percent. The Producer Price Index for … Continue reading

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FOMC Policy Announcement

FOMC Doubles Down on QE3, Funds Rate Tied to Unemployment Rate  Operation Twist will end this month as expected. QE3 will be expanded to include $45 billion per month of longer-term Treasury bond purchases. Principle from maturing securities will continue … Continue reading

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