Economic Buzz: New Zealand Services PMI Speeds Up In May

New Zealand services sector accelerated in May with a Performance of Services Index score of 57.3, the latest survey from BusinessNZ revealed on Monday. Thats 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.