Activity in NZ service sector dips in December

Rebecca Howard
Mon, 21 Jan 2019

By Rebecca Howard Jan. 22 (BusinessDesk) - Activity in New Zealand's services sector dipped further in December, with the activity and sales sub-index reaching its lowest level since May 2014.  The BNZ-Business NZ performance of services index fell 0.4 points to 53.0 in December, below the long-run average of 54.5. The PSI was more negative than its sister survey - the performance of manufacturing index - which hit its highest level since April in December. The seasonally adjusted PMI for December was 55.1, up 1.4 points from November....
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The negative market reaction to Rio Tinto’s announcement that it was winding down the Tiwai Point aluminium smelter was overdone, particularly for investors with long-term perspectives. The smelter...

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