The economy added 227,000 jobs in February as the unemployment rate held steady at 8.3%.  The ISM services index rose 0.5 points to 57.3 in February.  Productivity growth for the 4^th quarter was revised upwards to 0.9%.  Consumer credit increased 8.6% in January.  The U.S. trade deficit widened 4.4% to $52.6 billion in January.  Factory orders were down 1.0% in January.  Initial jobless claims increased 8,000 to 362,000 for the week ended 3/3.

• The economy added 227,000 jobs in February as the unemployment rate held steady at 8.3%.  The labor force increased by 476,000 as the labor force participation rate edged up to 63.9%.  The number of unemployed persons was little changed at 12.8 million.
• The ISM services index increased 0.5 points to a level of 57.3 February. 
• Productivity for the 4^th quarter was revised upwards to an annual pace of 0.9%.  The previous estimate had been a 0.7% pace of growth.
• Consumer credit increased $17.8 billion (8.6%) to an annual pace of $2.51 trillion in January.  Revolving credit (i.e., credit cards) declined 4.4% while non-revolving credit (i.e., auto loans) rose 14.7%.
• The U.S. trade deficit unexpectedly widened by $2.2 billion (4.4%) to $52.6 billion in January.  Exports increased 1.4% while imports rose 2.1%.  This marks the largest trade deficit in more than three years. 
• Factory orders fell 1.0% in January. 
• Initial jobless claims increased 8,000 to a level of 362,000 for the week ended March 3^rd.