Slowing service sector activity may weigh on 4Q economic growth

Slowing service sector activity may weigh on 4Q economic growth
Rebecca Howard
Activity in the services sector dipped back below its long-term average in November, as new orders/business fell and inventories jumped, and doesn't bode well for fourth quarter economic growth.  The November BNZ-BusinessNZ performance of services fell 2 points from October to a seasonally adjusted 53.3 and was 0.5 of a point lower than in November 2018. The long-term average is 54.4 and a reading above 50 indicates expansion. “Having rebounded well through much of this year, New Zealand’s performance of services index suffered a knock in...

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