Comerica Bank's Texas Index Climbs
DALLAS, July 20, 2021 /PRNewswire/ -- Comerica Bank's Texas Economic Activity Index increased in May to 123.0. May's index reading was 24.0 percent above the recent low of 99.2 set in June 2020. The index averaged 112.1 points for all of 2020, 13.5 points below the average for 2019. April's index reading was revised to 118.2.
- DALLAS, July 20, 2021 /PRNewswire/ --Comerica Bank's Texas Economic Activity Index increased in May to 123.0.
- Our Texas Economic Activity Index increased by 4.1 percent in May, this is the strongest one-month gain for the index in its history since early 2008.
- Improving U.S. and global conditions, rising oil prices and less restrictive COVID mitigation policies for Texas businesses have combined to bring the Texas Index for May to within 2.6 percent of its pre-pandemic level.
- The Texas Economic Activity Index consists of nine variables, as follows: nonfarm payroll employment, continuing claims for unemployment insurance, housing starts, house price index, industrial electricity sales, Texas rotary rig count, total trade, hotel occupancy and sales tax revenue.