US manufacturing expands in June at fastest rate in 4 years

The U.S. manufacturing sector expanded more strongly than expected in June, with the rate of growth and key subindexes advancing to their highest levels in more than four years, an industry report showed on Monday.

Financial data firm Markit said its preliminary or "flash" U.S. Manufacturing Purchasing Managers Index rose to 57.5 in June, above economist expectations for 56.5 and the highest reading since May 2010. In May, the final read for the index was 56.4.