Monthly Archives: August 2013

Comerica Bank’s Texas Index Unchanged in June

Comerica Bank’s Texas Economic Activity Index was unchanged in June, remaining at a level of 103.7. The June reading is 32 points, or 45 percent, above the index cyclical low of 71.6. The index averaged 102 points for all of … Continue reading

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Comerica Bank’s California Index Eases in June

Comerica Bank’s California Economic Activity Index eased in June, decreasing 0.5 percentage points to a level of 105.9.  June’s reading is 33 points, or 46 percent, above the index cyclical low of 72.7. The index averaged 101 points for all … Continue reading

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Comerica Bank’s Michigan Index Continues to Increase in June

Comerica Bank’s Michigan Economic Activity Index increased in June, up 2.6 percentage points to a level of 127.4. June’s reading is 55 points, or 77 percent, above the index cyclical low of 72.1. The index averaged 114 for all of … Continue reading

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July New and Existing Home Sales

Mixed Results Show Vulnerabilities in Housing Market  New Home Sales for July fell sharply by 13.4 percent to an annual rate of 394,000 units. The Months’ Supply of New Homes on the market jumped to 5.2 months’ worth in July. … Continue reading

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Comerica Economic Weekly

U.S. economic data released in the middle of August are consistent with an economy that has moderate, but not robust, momentum halfway through the third quarter. On the upside of the story, house prices have increased significantly over the last … Continue reading

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July Retail Sales, NFIB Survey, June Business Inventories

Headline Sales Modest but Underlying Data Looks Good July Retail Sales increased by just 0.2 percent, as auto sales dipped following a strong June. Ex-auto Retail Sales gained 0.5 percent, boosted by higher gasoline prices. The NFIB’s Small Business Optimism … Continue reading

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Comerica Economic Weekly

The U.S. international trade gap narrowed significantly in June to -$34.2 billion. The better-than-expected trade data strongly implies that GDP for the second quarter will be revised up when the preliminary (second) estimate is released on August 29. The advance … Continue reading

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Q2 Looking Better and Better, Teeing up Growth for 2013 H2

Remember that they call it the dismal science for a reason, when you recall how gloomy the forecasts were for second quarter real GDP growth. Some forecasters warned about the possibility of a negative quarter. The advance (first) estimate of … Continue reading

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June International Trade, JOLTS, July ISM Non-manufacturing

Trade Gap Stunner Says Q2 GDP to be Revised Up The U.S. International Trade Gap narrowed significantly in June to -$34.2 billion. Better-than-expected trade data for the end of Q2 implies a sizeable upward revision to Q2 GDP. The Jobs … Continue reading

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Comerica Economic Weekly

The advance estimate of 2013Q2 GDP is a good news/bad news story. The good news was that real GDP growth for the second quarter exceeded gloomy expectations at 1.7 percent. The bad news is that GDP growth in the four … Continue reading

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