FXstreet.com (Barcelona) - Activity in the US manufacturing sector failed to grow in April for its third consecutive month, with new orders and production declining slowly, while prices rise at highly inflationary rates.

The PMI index remained at 48.6 in April, the same as in March, which indicates contraction of the sector's activity, as only figures above 50 show tat the sector's activity is increasing.

New orders remain at 46.5, the same as in March, while the production index edged up 0.4 points to 49.1, and the employment index fell 3.8 points to 45.4. Prices have risen to 84.5 in April from 83.5 in March, which means that manufacturers are paying high prices, as April's prices index is the highest since the 86 in May 2004.