Services activity slows while regions sour

The return of tourism is underpinning parts of the country. (Image: RealNZ)

Tue, 24 Jan 2023

Activity in New Zealand’s services sector continued to grow in December, although at a slow pace, with those industries exposed to the tourism sector the most rushed off their feet. The BNZ-Business NZ performance of services index (PSI) fell 1.7 points to 52.1 in December, holding above the 50 level that separates expansion from contraction. However, that pace of growth slowed markedly from the 58.6 reading in August and was now below trend. BNZ economist Craig Ebert said the wholesale and retail trade, transport and storage, a...

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