FXstreet.com (Barcelona) - Economic activity in the US manufacturing sector has failed to grow in May for its fourth consecutive month, although the ISM manufacturing index has risen from the previous month, prices continue growing to record levels, according to the latest ISM Report on Business.

US PMI has risen to 49.6 in May from 48.6 in April, approaching but not yet in figures above the 50 critical level which separates expansion from contraction of the sector.

The ISM new orders index has risen 3.7 points to 49.7 in May, the production index has risen to 51.2% from 49.9% in April, while the employment index just edged up 0.1 to 45.5%. Prices have risen to 87.0 in May from 84,5 in April, reaching thus the highest level since the 88 level posted in April 2004.