The services sector expanded less in May than the previous month but continues to grow at a fast clip.
The April reading had been the strongest since 2007.
The Bank of New Zealand-Business New Zealand Performance of Services Index slid 4.3 points to 54.2 in the latest month. A reading above 50 indicates expansion.
The services sector accounts for between two-thirds and three-quarters of the economy.
Despite the dip in expansion levels, four of the five main sub-indices were still in expansion mode during May.
Supplier deliveries was the exception, with it contracting slightly for the first time since January.
BNZ economist Doug Steel said the latest survey's results are no cause for concern as the service sector is still growing strongly.