New Zealand Services PMI Accelerates … RTT
New Zealand Services PMI Accelerates In May
The services sector in New Zealand picked up steam in May, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 57.3.
That’s up from the upwardly revised 56.4 in April (originally 55.9), and it moves farther above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, all five of the main indexes accelerated in May, including sales, employment, new orders, stocks and supplier deliveries.
“The positive signals in May from the PSI reinforce improvement we have seen in the index over recent months, following a somewhat weaker patch earlier in the year,” BNZ Senior Economist Doug Steel said.
by RTTNews Staff Writer