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Saturday, March 30, 2013

Wells Fargo Weekly Economic Commentary

· Personal spending posted a solid gain in February as
consumers shake off January’s hit to income. Income is,
however, recovering, up 1.1 percent in February.

· February durable goods orders rose 5.7 percent on the
back of stronger transportation orders. Shipments
recovered from January’s decline, but suggest modest
business spending in the first quarter.

· New home sales stumbled in February, but the broader
housing recovery remains intact. The S&P/Case-Shiller
index showed home values across 20 major markets rose
a solid one percent in January.

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