Services sector perks up in May

Catherine Beard says the manufacturing sector has remained in a tight band of contraction. (Image: BusinessNZ)

Mon, 19 Jun 2023

The services sector renewed its growth tack in May after a lull during April with a performance of services index (PSI) rating of 53.3, up 3.2 points.That's still under the long-term average of 53.6 for the BNZ index, although BusinessNZ chief executive Kirk Hope said the uplift was welcomed following April's dip.All five components of the index were above 50 – regarded as a signal of expansion – led by stocks/inventories at 56.8, with new orders/business at 55.4. The employment measure was at 52.6, activity/sales at 52.0 an...

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