Manufacturing Sector Still Not Growing, ISM Says

Washington, DC, June 2, 2008--The Institute for Supply Management said its index of manufacturing activity rose slightly in May, but the sector is still not growing.

The group also said that the index of prices is the highest since April 2004.

The reading of 49.6 for the overall index beat economists' expectations of 47.9. A reading above 50 shows the manufacturing sector is growing.