Breakfast briefing: Global service sector buoyed by jobs growth

Here's our summary of key economic events over the long weekend that affect New Zealand, with news the global service sector is expanding faster and keeping the long-awaited economic retreat at bay. This wasn't expected because a faster expansion was anticipated. They ran at about a +15.0 mln annual rate and well down on the +16.1 mln annual rate in April. Japan's service sector is expanding even faster now and at a record pace since this survey began in 2008India's service sector is expanding faster as well. The Kiwi dollar starts today little-changed at 60.8 USc.