Service sector activity eases in August but still expanding

Sun, 15 Sep 2019

By Rebecca Howard Sept. 16 (BusinessDesk) - Activity in the services sector eased marginally in August but continues to expand. The BNZ-BusinessNZ performance of services index fell 0.2 points from July to a seasonally adjusted 54.6 and was 1.3 points higher than August 2018. The long-term average is 54.4 and a reading above 50 indicates expansion. The index continues to “rumble along at a trend-like pace” and the “component detail did little to disabuse the sense of robustness," said Bank of New Zealand senior economist Craig Ebert....

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