The services sector in New Zealand continued to expand in April, albeit at a slower pace, the latest survey from Business NZ revealed on Monday with a PMI score of 56.5.
That’s down from 57.6 in March, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.
All five sub-indexes remained in expansion territory in April, including stocks/inventories, supplier deliveries, employment, activity/sales and new orders.
“The key indicators of activity/sales and new orders/business remained over the 60-point mark, which bodes well for the short term in terms of ongoing growth,” Business NZ chief executive Phil O’Reilly said.
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