Overview:  The ISM services index fell 2.4 points to 57.3 in March.  Consumer credit increased $7.6 billion to $2.42 trillion in February. Initial jobless claims fell 10,000 to a level of 382,000 for the week ended 4/2.

• The ISM services index fell 2.4 points to 57.3 in March.  This decline follows six consecutive months of increase.  The index has been above 50—indicating expansion in the services sector of the economy—since December of 2009. 
• Consumer credit increased $7.6 billion to $2.42 trillion in February.  This marks the fifth straight month of increase in credit.  Revolving credit (i.e., credit cards) declined $2.7 billion while non-revolving credit increased $10.3 billion.  
• Initial jobless claims fell 10,000 to 382,000 for the week ended April 2^nd.