The services sector in New Zealand continued to expand in May, and at a faster rate, the latest survey from BusinessNZ revealed on Monday with a performance of Services Index score of 53.6.
That’s up from 52.0 in April, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
However, the May result was still below the long term average of 54.4 for the survey.
Individually, sales, supplier deliveries, and new orders all remained in expansion territory, while employment and stocks swung to expansion after contracting in the previous month.
The material has been provided by InstaForex Company – www.instaforex.com