Monthly Archives: May 2013

Comerica Economic Weekly

Economic data released in the last week of May highlight ongoing improvement in U.S. housing markets within the context of a broader economy that is growing only moderately through the second quarter. The Case-Shiller 20-City Composite House Price Index for … Continue reading

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April Income and Spending

Real Income Close to Stall Speed, Savings Rate Stays Low, Disinflation Continues U.S. Personal Income was unchanged nominally in April, but falling prices helped. The PCE Price Index decreased by 0.3 percent in April as gasoline prices eased. After accounting … Continue reading

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Comerica Bank’s Texas Index Cools Again in March

Comerica Bank’s Texas Economic Activity Index fell slightly in March, declining 0.9 percentage points to a level of 104.2. The March reading is 33 points, or 46 percent, above the index cyclical low of 71.5. The index averaged 102 points … Continue reading

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Comerica Bank’s California Index Climbed in March

Comerica Bank’s California Economic Activity Index climbed in March, gaining 2.1 points to a level of 104.5.  March’s reading is 32 points, or 44 percent, above the index cyclical low of 72.6. The index averaged 101 points for all of … Continue reading

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Michigan Index Up Again in March

Comerica Bank’s Michigan Economic Activity Index increased in March, up 1.8 points to a level of 119.9. The March index reading is 49 points, or 68 percent, above the index cyclical low of 71.2. The index averaged 114 for all … Continue reading

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Comerica Economic Weekly

Two themes emerged from this week’s U.S. economic events. (1) Residential real estate conditions continue to improve. (2) The Federal Reserve is getting close to the beginning of the end of QE3. Continue reading

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April New Home Sales, Existing Home Sales, May UI Claims, Fedspeak

Housing-related data continues to be positive. New home sales for April increased by 2.3 percent to hit a 454,000 unit sales rate. Also, Federal Reserve officials are increasingly anticipating the turn in monetary policy. Continue reading

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The Push and the Pull

The U.S. economy is experiencing the opposing forces of expansive monetary policy and tightening fiscal policy. Between the push and the pull, the private sector is expected to grow moderately through the remainder of this year, enough to bring the unemployment rate down slowly and keep real estate markets heading in a positive direction. Continue reading

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Comerica Economic Weekly

Unemployment insurance claims and chain‐store sales, both due out Thursday, will be the most watched economic numbers for the week ahead. Continue reading

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April U.S. Employment and ISM Non‐Manufacturing, March Intl. Trade

Bullet Dodged as Payrolls Gain, Upward Revisions Help The April Payroll Employment Survey showed a moderate gain of 165,000 jobs, with positive revisions. The Unemployment Rate for February decreased to 7.5 percent, as the household survey gained 293K. Average Weekly … Continue reading

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