New Zealand’s services industry growth quickens in May as new orders jump

Sun, 17 Jun 2018

By Margreet Dietz June 18 (BusinessDesk) - New Zealand’s services sector expanded at an accelerated pace in May, posting its second-highest rate of growth in the past 11 months, according to the BNZ - BusinessNZ performance of services index (PSI). The PSI for May was 57.3, which was 0.9 points higher than the April reading. A PSI reading above 50 indicates that the service sector is generally expanding; below 50 that it is declining. “The positive signals in May from the PSI reinforce improvement we have seen in the index over recent...

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