Monthly Archives: May 2017

Comerica Economic Weekly

It was a light week for U.S. data. April home sales were soft. Q1 GDP was revised up and the Fed minutes revealed more about balance sheet reduction. New home sales fell by 11.4 percent, to a 569,000 unit annual … Continue reading

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April New and Existing Home Sales

 Sales Slip but Inventories of Existing Homes for Sale Remain Tight New Home Sales decreased by 11.4 percent in April to a 569,000 unit annual rate. Existing Home Sales fell by 2.3 percent in April to a 5,570,000 unit annual … Continue reading

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Comerica Economic Weekly

U.S. economic data this week was generally positive and consistent with an increase in the pace of real GDP growth in the second quarter, following a weak first quarter. Residential construction data was weaker than expected in April as total … Continue reading

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Arizona Economy On Positive Course Despite Q1 Slow Down

Revised Arizona payroll employment data were mixed. Starting with the positive, the Bureau of Labor Statistics annual revision indicated that Arizona added 69,700 jobs last year. This is twice the amount of jobs in 2016 than the original data implied. … Continue reading

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Florida Economy Maintains Momentum in Early 2017

The Florida economy is on pace to expand in the first half of 2017 as state real gross domestic product growth improves, boosted by strong job and income growth. Construction employment alone, which is the third largest labor sector after … Continue reading

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California’s Aging Business Cycle and Trumponomics

The story for the California economy, now in its seventh year of economic expansion since the Great Recession, has remained relatively consistent over the past few years. The state is showing signs that it is maturing later into the economic … Continue reading

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Michigan to Benefit from Automaker Investment

Michigan economy is at a crossroads. The economic recovery fueled by the rebounding auto sector has been a tremendous positive for the state, but that is largely played out. We expect auto sales in 2017 to step down from the … Continue reading

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More Evidence of a Turn in the Texas Economy

For the first time since the first quarter of 2015, Texas put together back-to-back quarters of positive state-level real GDP growth in the second half of 2016. We expect the string of real gains to state gross domestic product to … Continue reading

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April Housing Starts, Industrial Production, May Empire State and NAHB

Builder Confidence High but Construction Eased in April, Industrial Production Up Housing Starts decreased in April by 2.6 percent to a 1,172,000 unit annual rate. Permits for new residential construction decreased by 2.5 percent to a 1,229,000 unit pace in … Continue reading

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Comerica Economic Weekly

U.S. economic data this week showed stronger-than-expected inflation in April, ongoing positive labor market indicators, and positive news about U.S. consumers. Overall, the data were consistent with our expectation for improved GDP growth in Q2, after a weak Q1. Upstream … Continue reading

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