With industrial production for February (0% m/m vs +0.2% Bloomberg consensus), we have the following picture of key indicators followed by the NBER BCDC, plus S&P Market Intelligence monthly GDP. {chart} Figure 1: Nonfarm payroll employment, NFP (dark blue), Bloomberg consensus of 3/17 (blue +), civilian employment (orange), industrial production (red), personal income excluding transfers in Ch.2012$ (green), manufacturing and trade sales in Ch.2012$ (black), consumption in Ch.2012$ (light blue), and monthly GDP in Ch.2012$ (pink), GDP (blue bars), all log normalized to 2021M11=0. Q3 Source: BLS, Federal Reserve, BEA ... (full story)