Reports May Carry Some Sunnier News

U.S. consumer spending showed signs of life last month, lowering the odds of a recession, analysts said. And though industrial production probably dropped, inventory reductions suggest that factories will find more work to do, reports this week are likely to show. The Commerce Department will issue the retail sales report Tuesday and the inventories report Wednesday. The Federal Reserve will report Friday on industrial production.

Other economic reports due this week:

* Thursday, Commerce Department fourth-quarter report on the current account deficit, a measure of trade in goods, services and financial transactions.

* Thursday, Labor Department report on jobless claims for the week ended March 10.

* Friday, Labor Department producer price index report on inflation for February.

* Friday, Commerce Department report on new-housing construction in February.