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Non-Tech : Banks--- Betting on the recovery
WFC 87.18+1.1%12:40 PM EST
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From: tejek3/31/2010 2:49:49 PM
   of 1428
 
March Chicago PMI 58.8 Versus 62.6 in February

3/31/2010 9:54 AM EDT

General business activity in Chicago remains robust, according to area purchasers, whose index came in at a very strong 58.8 to signal significant growth relative to February, Bloomberg reported. But the pace of the month-to-month growth did slow slightly from robust 60-plus readings in February and January. But the March number remains well above the break-even level of 50 and is led by a sixth straight plus-60 reading in the leading component of new orders which came in at 61.8, Bloomberg said.

Production, which follows new orders, is also above 60, at 60.5 for its fourth straight plus-60 reading. Businesses in the area added to payrolls for a third straight month with the index at 53.1 vs. February's 53.0. In what may be a pivotal reading for the report, inventories, at 52.4, moved over 50 for the first time this cycle to indicate that businesses in the region are finally adding to their stocks, Bloomberg reported
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