18 Jun 2018

Service sector activity climbs from April drop

7:55 pm on 18 June 2018

The services sector has bounced back from April's dip in activity.

An index of monthly activity in the sector in May rose nearly one point to a seasonally adjusted 57.3 percent from the month before.

All five of the index's components rose, with the biggest mover being new orders.

BNZ said the activity was a good signal of demand for services and sales in the coming months.

In contrast, the manufacturing sector fell in a similar survey last week, with marked weakness in employment intentions.