Monthly Archives: July 2013

FOMC Policy Announcement

Fed Adds Little to QE3 Debate QE3 will continue as originally defined with a total of $85 billion of asset purchases per month. The FOMC is prepared to change the pace of purchases as conditions change. The near-zero fed funds … Continue reading

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2013Q2 GDP, July ADP Employment

Good News and Bad News: Current Data Better Than Expected but History Revised Down Real Gross Domestic Product increased at a better-than-expected 1.7 percent annualized rate in 2013Q2. Real Consumer Spending increased at a moderate 1.8 percent annual rate in … Continue reading

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Comerica Bank’s Florida Index Climbs in May

Comerica Bank’s Florida Economic Activity Index grew by 5.0 percentage points in May, to a level of 120.0. The May index reading is 39 points, or 49 percent, above the index cyclical low of 80.6. The index averaged 105 in … Continue reading

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Comerica Bank’s Arizona Index Up in May

Comerica Bank’s Arizona Economic Activity Index steadily increased in May, rising 1.5 percentage points to a level of 96.5. The May index reading is 25.2 points, or 35 percent, above the index cyclical low of 71.3. The index averaged 87.2 … Continue reading

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Comerica Economic Weekly

Economic releases this week shed some light on residential real estate markets and the manufactur-ing sector. Existing home sales for June ticked down slightly by 1.2 percent, while new home sales roared ahead by 8.3 percent. New orders for durable … Continue reading

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June New and Existing Home Sales, July FOMC Preview

Existing Sales Dip, But New Home Sales Surge New Home Sales for June increased by 8.3 percent to a 497,000 unit annual rate. The Months’ Supply of New Homes on the market fell to a very tight 3.9 months’ worth … Continue reading

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Comerica Economic Weekly

We are another week closer to the expected September 18th start to QE3 calibration. However, in aggregate, this week’s data did not solidify that expectation by suggesting that the U.S. economy was improving quickly. Retail sales for June were disappointing. … Continue reading

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Comerica Bank’s California Index Steady in May

Comerica Bank’s California Economic Activity Index held steady in May, decreasing only 0.1 percentage points to a level of 106.6.  May’s reading is 34 points, or 47 percent, above the index cyclical low of 72.6. The index averaged 101 points … Continue reading

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Comerica Bank’s Texas Index Flattens in 2013

Comerica Bank’s Texas Economic Activity Index fell slightly in May, declining 0.1 percentage points to a level of 103.6. The May reading is 32 points, or 45 percent, above the index cyclical low of 71.5. The index averaged 102 points … Continue reading

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Comerica Bank’s Michigan Index Climbs Upward in May

Comerica Bank’s Michigan Economic Activity Index increased in May, up 3.0 percentage points to a level of 125.2. The May index reading is 53 points, or 74 percent, above the index cyclical low of 72.1. The index averaged 114 for … Continue reading

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