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Monthly Archives: January 2013
December Existing Home Sales
The Economic Tug of War Existing Home Sales for December decreased by 1.0 percent, to a 5.9 million unit annual rate. The Median Sales Price of an existing home was up 11.5 percent from a year ago, according to the … Continue reading
Posted in Daily, United States
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Comerica Economic Weekly
As data for the fourth quarter of 2012 rolls in we are seeing evidence of an economy that can be described as tentative but not stalled. December retail sales gained 0.5 percent as motor vehicle and parts dealers reported a … Continue reading
Posted in United States, Weekly
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December Retail Sales, Producer Prices, November Biz Inventories
Mixed Data at Year-End 2012 Suggests Tentative Growth December Retail Sales increased by 0.5 percent, boosted by autos, held back by gasoline. Ex-auto Retail Sales gained 0.3 percent as furniture sales increased by 1.4 percent. The Producer Price Index … Continue reading
Posted in Daily, United States
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Arizona Economy Grows in October
Comerica Bank’s Arizona Economic Activity Index increased by 1.6 percentage points in October, rising to a level of 89.5. The October index reading is 19 points, or 26 percent, above the index cyclical low of 71.0. Year-to-date the index has … Continue reading
Posted in Arizona, Economic Activity, Indices
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The Fiscal Cliff: Shoes Still Dropping, Gloves Are Off, Belts Are Tightening
President Obama signed the American Taxpayer Relief Act of 2012 into law on January 2. While the passage of the act did reduce uncertainty about the tax burden facing U.S. households this year, it did not address all aspects of … Continue reading
Posted in Monthly, United States
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Comerica Economic Weekly
It was a light week for data. The most important U.S. data points were the November trade gap and November job openings (both series have significant lags), unemployment insurance claims for the first week of January and the NFIB Small … Continue reading
Posted in United States, Weekly
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November International Trade, JOLTS, December NFIB Survey
Trade, Jobs and Fiscal Tightening in a Gadgetized and Medicated Economy The U.S. International Trade gap widened in November to $48.7 billion as consumers bought gadgets. The JOLTS data for November shows stable hiring and separation rates for November. The … Continue reading
Posted in Daily, United States
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December U.S. Employment, Auto Sales, ISM Non-Manufacturing
Payroll job growth in December met expectations, up 155,000 for the month. The December unemployment rate was unchanged at 7.8 percent after an upward revision to the November rate. The good news in the report is that more workers working longer hours for more pay is at least a partial counterforce to the expected hit to real disposable income in the current quarter, coming as fiscal headwinds start to blow. Continue reading
Budget Agreement, December ISM Manufacturing, Nov. Construction
Half-Baked Budget Agreement Leaves More to Do, Manufacturing Conditions Improve The ISM Manufacturing Index for December increased to 50.7 percent, indicating slight improvement. Construction Spending for November decreased by 0.3 percent, held down by private nonresidential. We start out … Continue reading
Posted in Daily, United States
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