US factory activity edges up in Feb: Markit

New York

THE US manufacturing sector expanded in February at its fastest rate since November, after notching its lowest reading in a year in the prior month, an industry report showed on Friday.

Financial data firm Markit said its preliminary or "flash" US Manufacturing Purchasing Managers Index rose to 54.3 in February, up from January's final reading of 53.9. Economists polled by Reuters had expected a 53.6 reading, similar to the median forecast in a Bloomberg survey of 20 economists which called for 53.6, with estimates ranging from 53 to 55.1.