Economic Review

March 12, 2014

+ Nonfarm payrolls rose by 175,000 in February as employers looked past the weather of late. The unemployment rate ticked up to 6.7% percent as an increase in the labor force overshadowed household employment gains.

+ The ISM manufacturing index bounced back a bit in February, although activity remains decidedly weaker since the start of the year.

+ Personal income picked up in January, while spending also accelerated. With inflation still mild, real consumer spending has advanced at a 2.5 percent annualized pace over the past three months.

According to Wells Fargo real estate capital markets group.