After showing a lackluster performance earlier in the session, the stock markets are firmly in positive territory in early-afternoon trading on Monday. A better than expected report on business activity in the Chicago area has added to the positive sentiment in the final trading day of the first quarter.
The National Association of Purchasing Management - Chicago released its report on business activity in the Chicago-area manufacturing sector in the month of March, showing that its index of activity in the sector came in above economist estimates.
The report showed that the purchasing managers index rose to 48.2 in March from 44.5 in February, although a reading below 50 indicates a continued contraction in the sector. Economists had been expecting the index to edge up to 46.7.
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