Bleak November for services sector

Mon, 14 Dec 2020

Activity in New Zealand’s services sector shrank in November, according to the BNZ-BusinessNZ performance of services index.The PSI for November was 46.7, down 4.1 points from October. A PSI reading above 50 indicates the sector's activity is expanding. November’s reading was the lowest since May.Not only that, but the three-month running average was also below the 50 breakeven level in November, with a reading of 49.2.“This paints a picture of momentum lost, after a couple of months of solid rebound in June and July,&rdqu...

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