US and China show signs of continued growth

Reports on Monday showed continued economic growth in the US and China.

The US data were somewhat mixed.

Manufacturing activity cooled in March, according to the Institute for Supply Management. Its manufacturing PMI fell to 51.3 last month from 54.2 in February.

In contrast, Markit's manufacturing PMI for the US rose to 54.6 in March from 54.3 in February.

Another report from the US on Monday showed that construction spending rose 1.2 percent in February after having fallen 2.1 percent in January.

Earlier on Monday, data had shown accelerating activity in China's manufacturing sector.

The manufacturing PMI from the National Bureau of Statistics and the China Federation of Logistics and Purchasing rose to 50.9 in March, the highest since April 2012, from 50.1 in February.

HSBC's manufacturing PMI for China rose to 51.6 in March from 50.4 in February.