June 23 (Bloomberg) -- The Markit Economics preliminary index of U.S. manufacturing increased to 57.5 in June, the highest since May 2010, from 56.4 a month earlier, the London- based group said today.
Readings exceeding 50 in the purchasing managers’ gauge indicate expansion. The median forecast in a Bloomberg survey of 15 economists was 56, with estimates ranging from 54.5 to 58.4.
The group’s measure of orders climbed to 61.7 in June from 58.8. A gauge of factory employment showed expansion at a similar pace as in May, while production accelerated.
The Markit measure is based on replies from about 85 percent to 90 percent of companies in a poll of more than 600 American manufacturers.