Economic surveys and forecasts are beginning to show some consistency in results. While Otago and Southland's performance in the manufacturing index last week was strong, yesterday's release of the separate services index for Otago Southland was a relatively flat performance, up slightly at 51.9.
Readings above 50 indicate expansion and readings below that contraction.
Nationally, the services index for May was unchanged from April at 56.2, building slightly from 55.7 in February and March. All five main services sector sub-indices were in expansion during May.
A separate economic forecast released by the New Zealand Institute of Economic Research (NZIER) yesterday said the economy was recovering and economic growth was set to pick up over the next two years.
NZIER's consensus forecast expected economic growth to be boosted by the Canterbury rebuild and to show a gradual underlying recovery.
Economic growth would average 2.7% during the next three years, better than the past three years at 0.7% per year, but slower than 3.5% per year from 2001-08.
While the recent drought would ''flatten'' export growth in 2014, economic growth would remain sound, NZIER said in a statement yesterday.
Otago Southland Employers' Association chief executive John Scandrett said the southern regions' expansionary spike in March, which hit 61.9, had since flattened towards a more consistent pattern where a breakeven position had been secured.
Seasonally, April and May are a traditionally quiet period and it was positive the index had not slipped below 50, into contraction, Mr Scandrett said.
''Survey responses have, across most tourism, construction and selected property services, addressed the seasonal go-slow issues,'' he said.
He said within the services sub-indices, the orders-new business and the stocks-deliveries evaluations showed that activity levels in the months ahead ''will in all probability remain in expansionary territory''.
