California Economy Held Steady in November Reports The Comerica Bank California Economic Activity Index
2010年1月7日 - 4:32AM
PRニュース・ワイアー (英語)
DALLAS, Jan. 6 /PRNewswire-FirstCall/ -- Comerica Bank's California
Economic Activity Index was unchanged in November, at a level of
102. The Index in November remains up 11 points, or 12 percent,
cumulatively from its March cyclical low of 91. November's reading
is up four points over the same month in 2008, the largest 12-month
increase in the Index since June 2005. (Logo:
http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO) "Employment
continues to be the only component of our Index that is
consistently negative," said Dana Johnson, Chief Economist at
Comerica Bank. "Initial claims for unemployment insurance in
California using seasonal factors estimated at Comerica have fallen
about 10 percent since peaking in mid-2009, suggesting that job
growth in the state should begin to emerge later in 2010. I remain
optimistic that a self-sustaining expansion will develop in
California this year, given the stronger growth trends that are
emerging both nationally and globally." 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 $59.6 billion as of September 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 Bank 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 Bank Web Site:
http://www.comerica.com/
Copyright