NZ’s services sector expands at fastest clip in five months in April

Sun, 19 May 2013

May 20 (BusinessDesk) – New Zealand’s services sector, which accounts for about 70 percent of economic activity, expanded at the fastest pace since October last month, led by activity/sales. The latest BNZ-Business New Zealand Performance of Services Index (PSI) rose 0.5 points to 56.1, the highest for the month of April since the survey began in 2007. A reading above 50.0 indicates that the service sector is generally expanding, below 50.0 that it is declining. The PSI survey follows last week’s Performance of Manufacturing survey, which s...

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