One small step towards recovery for services sector

Mon, 20 Jul 2020

Activity in New Zealand’s services sector has begun to bounce back from the dire downturn in April and May, but firms are still letting staff go.The BNZ/BusinessNZ performance of services index jumped 16.6 points to 54.1 in June from the month prior, the first time activity has grown since February. A level above 50 indicates the sector is growing. In April, the reading was 25.8, showing a massive contraction in activity.“It is positive, if only one step forward after a giant leap backwards,” said Bank of New Zealand econ...

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