NZ services sector activity picks up in May but still tepid

Sun, 16 Jun 2019

By Rebecca Howard June 17 (BusinessDesk) - Activity in New Zealand's services sector lifted in May following a three-month lull but remains below the long-term average. The BNZ-BusinessNZ performance of services index increased 1.6 points in May from April to a seasonally adjusted 53.6. That was 3 points lower than a year earlier and remains below the long-term average of 54.4. A reading above 50 indicates expansion. "Overall, however, May’s PSI does tend to affirm the impression of a slowing services sector, rather than instilling co...

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