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PERSONAL INCOME Monday, Mar. 2, 10 a.m.

Personal income was probably flat in January, after jumping 1% in December. Consumer spending likely rose 0.3% in January, the same gain as in December.

CONSTRUCTION SPENDING Monday, Mar. 2, 10 a.m.

Building outlays likely rose just 0.4% in January, after falling 0.2% in December.

NAPM SURVEY Monday, Mar. 2, 10 a.m.

The index of industrial activity compiled by the National Association of Purchasing Management probably edged up to 48.6% in February, from 47.4% in January, say economists polled by McGraw-Hill Inc.'s MMS International.

LEADING INDICATORS Tuesday, Mar. 3, 8:30 a.m.

The index of leading indicators likely rose by 0.5% in January, after falling 0.3% in both November and December.

NEW SINGLE-FAMILY HOME SALES Tuesday, Mar. 3, 10 a.m.

The MMS consensus expects that new homes sold at a 550,000 annual rate in January, up from 522,000 in December.

FACTORY INVENTORIES Wednesday, Mar. 4, 10 a.m.

Manufacturing inventories probably fell by 0.3% in January. If so, that would be the fourth consecutive decline, including a 0.5% drop in December. The drawdown is suggested by the steep 1% drop in manufacturing output in January.

EMPLOYMENT Friday, Mar. 6, 8:30 a.m.

Nonfarm payrolls probably grew by only 25,000 in February, say the MMS economists. But a 10,000 drop in factory jobs is expected. In January, 91,000 jobs were lost. The unemployment rate for February was probably unchanged at 7.1%.


Consumer credit likely fell by $500 million in January. In December, consumers cut their debt loads by $1.7 billion.JAMES C. COOPER AND KATHLEEN MADIGAN

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