NZ services sector activity bounces back in May

Sun, 18 Jun 2017

By Rebecca Howard June 19 (BusinessDesk) - New Zealand's services sector, which accounts for about two-thirds of the economy, bounced back in May after a number of external factors corrected themselves. The BusinessNZ-Bank of New Zealand performance of services index rose 5.6 points to 58.8 in May. A reading of 50 separates expansion from contraction, and New Zealand's services sector has been in expansion since July 2010. "It turned out that New Zealand’s performance of services index (PSI) had a bungee cord tied firmly around its an...

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