In This Issue:
Q1 In the Books and Still Set for Decent Gain
· Personal spending posted a solid gain in February as consumers shake off January’s hit to income. Income is, however, recovering, up 1.1 percent in February.
· February durable goods orders rose 5.7 percent on the back of stronger transportation orders. Shipments recovered from January’s decline, but suggest modest business spending in the first quarter.
· New home sales stumbled in February, but the broader housing recovery remains intact. The S&P/Case-Shiller index showed home values across 20 major markets rose a solid one percent in January.