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Three economic reports released Monday morning showed a slowing in manufacturing growth, while spending on construction rose to a new record and personal spending fell for the first time in four months.

The Institute for Supply Management said that its factory index fell to 50.5 in February from 53.9 in January. Despite the decline, the index indicated growth for a fourth straight month, ISM said.

Analysts told Bloomberg that report indicated that manufacturing is in the early stages of a “fitful recovery.”

Spending in the United States on construction projects rose 1.7% in January to a record annual rate of $877.9 billion, the Commerce Department said. The previous high – a rate of $874.3 billion – was hit in February 2002.

Personal spending, however, fell 0.1% in January, even as personal incomes rose 0.3%, Commerce said in a separate report.

Concerns about the war in Iraq and other geopolitical concerns were seen as the main reason spending drop by many analysts, Bloomberg said.

Spending on durable goods dropped by the largest amount in 13 years, 5.7%, Commerce added.

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