Chicago Fed index rises but global manufacturing slows

There were mixed data on the US economy on Monday.

The Chicago Federal Reserve's national activity index rose to +0.14 in February from -0.45 in January. However, the three-month moving average of the index fell to -0.18, its first reading below zero in six months, from +0.02 in January.

Also, a flash reading of Markit's US manufacturing PMI showed a fall to 55.5 in March from 57.1 in February. Nevertheless, it was significantly higher than the 53.7 in January.

Data elsewhere on Monday mostly showed slower growth.

Markit's flash reading of the eurozone composite index showed a fall to 53.2 in March from 53.3 in February. The service sector index fell to 52.4 in March from 52.6 in February while the manufacturing PMI fell to 53.0 from 53.2.

In China, the preliminary reading of the HSBC manufacturing PMI showed a fall to 48.1 in March, its lowest level in eight months, from 48.5 in February.