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Yet another sign growth in payrolls is slowing sharply.
Large fall is likely an Easter timing quirk; the trend still looks flat.
Too volatile to make us fear a renewed downturn in manufacturing.
Goods disinflation continues; margins and other services still sticky.
Some downside growth risks recognized, but attention still mostly on inflation
Core prices back on track; real after-tax income growth slowing sharply
Consistent with still-subdued business investment.
Manufacturers are past the worst, but claims will rise this spring.
Disappointing enough to make a first easing in May much less likely
Downward revisions and a muted February recovery signal an emerging consumer slowdown.
The current trend in payrolls is steady, but a clear downturn is coming
Backup in rates and high snow cover hurt sales last month
One spike in the core deflator after three very small increases does not change the trend.
Business investment probably still set for a weak Q1
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