FXstreet.com (Barcelona) - Economic activity in the US services sector has expanded in May at a slightly slower pace than in April, although the latest ISM index has been better than expected, according to the latest Non-Manufacturing ISM Report on Business.

The non-manufacturing PMI has decreased 0.3 points to 51.7 in may from the 52 level posted in April, despite the decrease, Mays reading has improved widely the experts forecasts of a decline to 51.0.

The business activity index, however, has increased 2.7 points to 53.6 points, while the new orders index, a forward looking indicator for the sector's activity, has increased 3.5 points to 53.6. On the negative side, the employment index has declined 2.1 points to 48.7, and the prices index has climbed 4.9 points reaching a 77 points level.