California Economy Continues to Rebound in August Reports the Comerica Bank California Economic Activity Index
05 Outubro 2009 - 2:45PM
PR Newswire (US)
DALLAS, Oct. 5 /PRNewswire-FirstCall/ -- Comerica Bank's California
Economic Activity Index rose one point in August to a level of 101.
August's reading is up 10 points, or 11 percent, cumulatively from
the Index's cyclical low of 91 reached in March. August marks the
fifth consecutive monthly increase in the Index. The Index in
August was unchanged from its level 12 months earlier. (Logo:
http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO) "Our Index
continues to show a welcome strengthening of the California
economy, with seven of the nine components of our Index
contributing positively in August," said Dana Johnson, Chief
Economist at Comerica Bank. "The key missing ingredient to a
sustained and healthy rebound continues to be job growth. It is the
only component of our index that has not contributed positively
since it bottomed five months ago in March." The California
Economic Activity Index equally weights nine, seasonally-adjusted
coincident indicators of real economic activity. These indicators
reflect activity in the manufacturing, tourism, travel and trade
sectors, as well as job growth and consumer outlays. The Index
levels represent a 3-month moving average, used to smooth monthly
volatility. The Index is benchmarked so that 2008 equals 100. A
complete historical series dating to 1997 is available upon
request. Comerica Incorporated is a financial services company
headquartered in Dallas, Texas, and strategically aligned by three
business segments: The Business Bank, The Retail Bank, and Wealth
& Institutional Management. Comerica focuses on relationships,
and helping people and businesses be successful. In addition to
Texas, Comerica Bank locations can be found in Arizona, California,
Florida and Michigan, with select businesses operating in several
other states, as well as in Canada and Mexico. Comerica reported
total assets of $63.6 billion as of June 30, 2009. To receive this
index directly to your email inbox, go to
http://www.comerica.com/econsubscribe to subscribe.
http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO
http://photoarchive.ap.org/ DATASOURCE: Comerica Incorporated
CONTACT: Media, Dana Johnson, Senior Vice President and Chief
Economist, +1-214-462-6839, , or Data, Meaghan Derrick, Research
Assistant, +1-214-462-6815, , both of Comerica Incorporated Web
Site: http://www.comerica.com/
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