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Chicago PMI rises to 46.3 in March from 45.8 in February

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Investing.com -

Investing.com - Manufacturing activity in the Chicago-area contracted for the second consecutive month in March, fuelling concerns over the U.S. economic outlook, industry data showed on Tuesday.

In a report, market research group Kingsbury International said its Chicago purchasing managers' index improved by 0.5 points to a seasonally adjusted 46.3 this month from a reading of 45.8 in February. Analysts had expected the index to rise to 51.5 in March.

On the index, a reading above 50.0 indicates expansion, below indicates contraction.

EUR/USD was trading at 1.0743 from around 1.0749 ahead of the release of the data, GBP/USD was at 1.4804 from 1.4810, while USD/JPY was at 119.95 from 119.89 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 98.75, compared to 98.71 ahead of the report.

Meanwhile, U.S. stock markets extended losses. The Dow 30 shed 0.6%, the S&P 500 dipped 0.5%, while the Nasdaq Composite slumped 0.45%.

Elsewhere, in the commodities market, gold futures traded at $1,187.50 a troy ounce, compared to $1,188.30 ahead of the data, while crude oil traded at $47.97 a barrel from $48.08 earlier.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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