Comerica Bank’s California Economic Activity Index grew in June, advancing 0.4 percentage points to a level of 113.3. June’s reading is 41 points, or 56 percent, above the index cyclical low of 72.6. The index averaged 106 points for all of 2013, five points above the average for all of 2012. May’s index reading was unchanged at 112.9.
“Our California Economic Activity Index resumed its upward track in June, consistent with steady gains in state payroll employment since February. Overall, our California Index has been mixed through 2014, declining in four out of the first six months of this year. However, as the graph below shows, the level of the index has been trending up, indicating an overall improving economic climate for California,” said Robert Dye, Chief Economist at Comerica Bank. “We expect to see ongoing gains for the California economy through the second half of 2014.”
For a PDF version of the California Economic Activity Index click here: CaliforniaIndex_0814.