Pace of growth in service industries slows in May

Sun, 19 Jun 2016

By Sophie Boot June 20 (BusinessDesk) - The pace of growth in New Zealand's services sector slowed in May, although a steady stream of inbound migration continues to stoke demand. The BNZ-BusinessNZ performance of services index fell 0.9 of an index point to a seasonally adjusted 56.9 last month, with all five sub-indices holding above a reading of 50, which separates contraction from expansion. "Today’s performance of services index for May suggests robust growth has continued into the heart of the second quarter," BNZ senior economi...

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