Category Archives: General

Comerica Bank’s Arizona Index Marks Second Consecutive Gain

Comerica Bank’s Arizona Economic Activity Index grew in October, increasing 0.5 percentage points to a level of 107.6. October’s index reading is 31 points, or 40 percent, above the index cyclical low of 77.0. The index averaged 99.7 points for … Continue reading

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Comerica Bank’s Florida Index Continues Solid Gains

Comerica Bank’s Florida Economic Activity Index grew in October, increasing 1.9 percentage points to a level of 142.3. October’s index reading is 64 points, or 82 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 Michigan Index Continues to Level Out

Comerica Bank’s Michigan Economic Activity Index improved marginally in October, increasing to a level of 127.3. October’s reading is 53 points, or 72 percent, above the index cyclical low of 74.1. The index averaged 117.4 points for all of 2014, … Continue reading

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December ISM Manufacturing, November Construction Spending

Manufacturing Sector Contracts for Second Month The ISM Manufacturing Index for December decreased again to a contractionary 48.2 percent. Construction Spending decreased by 0.4 percent in November as public construction eased. The ISM Manufacturing Survey declined in December to 48.2 … Continue reading

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November Home Sales, Income/Spending, Durable Goods and Q3 GDP

Home Sales Slump on Mortgage Processing Personal Income increased by 0.3 percent in November. Consumer Spending also gained 0.3 percent. New Home Sales for November increased by 4.3 percent to a 490,000 unit annual rate. Existing Home Sales for November … Continue reading

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Comerica Economic Weekly

On Wednesday, the Federal Open Market Committee voted unanimously to increase the fed funds rate to a range of 25 to 50 basis points, launching a new monetary tightening cycle. This was exactly as expected and financial markets appear to … Continue reading

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FOMC Policy Announcement

Fed Does the Expected and Raises the Fed Funds Rate The Federal Open Market Committee voted to raise the fed funds rate to a range of 25 to 50 bps. Forward Guidance emphasizes a gradual approach to future rate hikes … Continue reading

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November Residential Construction, Industrial Production

Stronger Construction and Weaker Production Numbers Launch Fed Day November Housing Starts increased by 10.5 percent to a 1,173,000 unit annual rate. Permits for new residential construction increased by 11.0 percent to a 1,289,000 unit pace. Industrial Production fell by … Continue reading

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Comerica Economic Weekly

Economic data leading up to the Federal Open Market Committee meeting of next week was within expected ranges. The most significant data point of the week was the price of oil, which has now dropped to about $36 per barrel … Continue reading

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December 2015, Comerica U.S. Economic Update

Janet Yellen’s speech of September 24 articulated her views on inflation, concluding that below-2-percent inflation was attributable to special factors that would prove transitory. We assume that she still has that view. Even with oil prices now below $40 per … Continue reading

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