Monthly Archives: February 2017

Comerica Economic Weekly

Lots of data, lots of Fedspeak, lots of commentary from the Trump Administration. We think that the net result will be positive for the U.S. economy, but it does give us a flashback to the Great Recession when uncertainty was … Continue reading

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January Residential Construction, February UI Claims

Single-Family Rising, Multifamily Heading into Third Year Range-Bound Housing Starts dipped in January by 2.6 percent to a 1,246,000 unit annual rate. Permits for new residential construction increased by 4.6 percent to a 1,285,000 unit pace in January. Initial Claims … Continue reading

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January Retail Sales, Consumer Price Index, Industrial Production

 Consumers Undeterred by Higher Prices January Retail Sales increased by 0.4 percent, boosted by higher gasoline prices. Retail Sales Ex-Autos increased by 0.8 percent in January. The Consumer Price Index gained 0.6 percent in December, on higher energy prices. Industrial … Continue reading

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Arizona’s Economy Will Catch a Tailwind

Recently released data from the Census Bureau indicate that net migration into Arizona has been stronger than previously estimated. This is a positive sign for the state’s private services and housing sector activity outlook for 2017. An increasing population has … Continue reading

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Florida’s Virtuous Cycle and Real Estate Leasing Headwinds

Most of the underlying fundamentals of the Florida economy remained positive heading into the start of 2017. Driving the state’s economy is the virtuous cycle of job growth and population gains seen over the past few years. Florida employment was … Continue reading

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Persistent Risks to California Manufacturing Employment

California employment growth moderated in 2016. Employment data showed that California total nonfarm payrolls were up by 2.0 percent, or 332,500 jobs, in the 12 months ending in December. The first read on full-year 2016 California jobs numbers is positive, … Continue reading

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Texas Is Turning the Corner, But It will Be a Slow Turn

Texas narrowly missed a technical recession over 2015 and 2016 as real state gross domestic product declined every other quarter from 2015Q2 through 2016Q2 (we define a technical recession as two or more consecutive quarters of declining real GDP). Moreover, … Continue reading

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Michigan to Benefit from Automaker Investment

The Michigan economy is much more than just autos and other durable goods manufacturing, but the auto sector still drives the state economy. Recent announcements of new investments in the state by automakers is good news for Michigan, but risks … Continue reading

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January PPI, Small Business Confidence, Fedspeak

Producer Prices Hotter than Expected, Fed Hike Earlier? The Producer Price Index for Final Demand increased by a greater-than-expected 0.6 percent in January. Core Producer Prices gained a calmer 0.2 percent. The NFIB’s Small Business Optimism Index remained high, at … Continue reading

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Comerica Economic Weekly

It was a light week for U.S. data but rumblings from Washington elevated the stock market. President Trump suggested that the framework of his proposed tax overhaul would be made public soon. Also, deregulation was in the news with discussion … Continue reading

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