Factory activity growth highest since 2010

Financial data firm Markit said the final read of its U.S. Manufacturing Purchasing Managers Index rose to 57.1 in February, according to Reuters. The preliminary read was 56.7, and the expectation was a reading of 56.6.

The reading in January was 53.7, a three-month low.

The new orders reading rose to 59.6, which is the highest read for that subindex since April 2010.

"This to a large extent reflects a temporary rebound after supply chains and production had been disrupted by severe weather," said Chris Williamson, Chief Economist at Markit, in a statement.

Readings above 50 indicate expansion.

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