Overview: The ISM index fell 1.7 points to 52.4 in February.  Fourth quarter GDP was revised upwards to 3.0%.  Personal income increased 0.3% while personal spending rose 0.2%.  The Case-Shiller index declined 0.5% in December.  Auto sales were up 6.5% in February.  Durable orders declined 4.0% in January.  Pending home sales rose 2.0% in January as construction spending declined 0.1%.  Initial jobless claims declined 2,000 to 351,000 for the week ended 2/25.

• The ISM index declined 1.7 points to 52.4 in February. 
• Fourth quarter GDP growth was revised upwards to an annual rate of 3.0%.  The previous, advance estimate had been 2.8%.
• Personal income rose 0.3% in January as personal spending was up 0.2%.
• The Case-Shiller home price index was down 0.5% in December.  On a year-over-year basis, the index was down 4.0%.
• Auto sales increased 6.5% in February to an annual rate of 15.1 thousand units.  On a year-over-year basis, sales were up 13.7%
• Durable orders declined 4.0% in January.  Excluding transportation, orders were down 3.2%.
• Pending home sales rose 2.0% in January. 
• Construction spending declined 0.1% in January. 
• New home sales declined 0.9% to an annual pace of 321,000 units. 
• Initial jobless claims declined 2,000 to a level of 351,000 for the week ended February 25^th.