The services sector in New Zealand swung back into expansion territory in June, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 54.1.
That’s up sharply from the upwardly revised 37.5 in May (originally 37.2) and it moves back above the boom-or-bust line of 50 that separates expansion from contraction.
This was the first time the sector exhibited expansion since February, and the highest value since January.
Individually, new orders, sales, supplier deliveries and stocks all moved well into expansion, although employment continued to lag.
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