BNZ - BusinessNZ indicator for the New Zealand's services sector
57.3 in May
- prior 56.4, revised up from 55.9
A solid rise for this PMI
- all 5 of the sub measures increased
BNZ:
- 'signals good demand for services …. bodes well for sales ahead'
- looking at the combined manufacturing and non-manufacturing PMIs 'cautions against extrapolating' the Q1 GDP weakness too far ahead
The NZ economy has lost some steam, but indicators continue to show growth.
