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

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