Softer June services activity points to economic slowdown

Sun, 14 Jul 2019

By Rebecca Howard July 15 (BusinessDesk) - Activity in New Zealand's services sector softened in June, adding to a picture of lacklustre economic growth. The BNZ-BusinessNZ performance of services index fell 0.8 of a point in June from May to a seasonally adjusted 52.7. That was 0.3 of a point lower than a year earlier and remains below the long-term average of 54.4. A reading above 50 indicates expansion. BusinessNZ chief executive Kirk Hope said the reading was “symptomatic of a lacklustre first half of 2019 for the sector.” Hope...

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