Monthly Archives: January 2016

Comerica Economic Weekly

We thought 2015Q4 real GDP growth was going to be weak and it turns out that we were right. The advance estimate of Q4 real GDP growth came in at an anemic 0.7 percent, just below our forecast of 0.8 … Continue reading

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FOMC Statement, December New Home Sales, November House Prices

Fed Keeps Key Interest Rate Unchanged As Expected The Federal Open Market Committee voted today to keep the fed funds target range unchanged. New Home Sales for December surged by 10.8 percent to a 544,000 unit annual rate. The U.S. … Continue reading

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Comerica Bank’s California Index Resumes Climb

Comerica Bank’s California Economic Activity Index grew in November, increasing 1.0 percentage point to a level of 120.6. November’s reading is 37 points, or 43 percent, above the index cyclical low of 84.1. The index averaged 113.7 points for all … Continue reading

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Comerica Bank’s Texas Index Slips on Oil

Comerica Bank’s Texas Economic Activity Index fell in November, decreasing 0.6 percentage points to a level of 94.1. November’s reading is 21 points, or 29 percent, above the index cyclical low of 72.8. The index averaged 105.2 points for all … Continue reading

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Comerica Bank’s Michigan Index Sees Biggest Boost in Four Months

Comerica Bank’s Michigan Economic Activity Index improved in November, increasing 0.6 percentage points to a level of 127.9. November’s reading is 54 points, or 73 percent, above the index cyclical low of 74.1. The index averaged 117.4 points for all … Continue reading

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Comerica Bank’s Florida Index Drives Ahead

Comerica Bank’s Florida Economic Activity Index grew in November, increasing 3.6 percentage points to a level of 145.8. November’s index reading is 68 points, or 87 percent, above the index cyclical low of 78.1. The index averaged 117.6 in 2014, … Continue reading

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Comerica Bank’s Arizona Index Gains Momentum

Comerica Bank’s Arizona Economic Activity Index grew in November, increasing 0.9 percentage points to a level of 108.5. November’s index reading is 32 points, or 41 percent, above the index cyclical low of 77.0. The index averaged 99.7 points for … Continue reading

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Comerica Economic Weekly

Global equity markets rallied today after European Central Bank President Mario Draghi strongly hinted that the ECB would ramp up its asset purchase program as early as March. Draghi said yesterday that “there are no limits to how far we … Continue reading

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Comerica Economic Weekly

The U.S. economic data stream so far in January has been rocky with the notable exception of the strong December jobs report. Today we see big losses in U.S. equity markets and oil prices below $30 per barrel. The Federal … Continue reading

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From the Desk of Robert Dye

Slushy Data Will Freeze the Fed this Winter Recent financial market volatility plus another leg down in oil prices, to near $30 per barrel for WTI, will make for an interesting discussion at the upcoming Federal Open Market Committee meeting … Continue reading

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