Menu
Menu
Search
Search
Search
Home
Economy

Softer June services activity points to economic slowdown

Softer June services activity points to economic slowdown
Rebecca Howard
Rebecca Howard
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...
Economy sponsored by
Worldline is NZ’s most experienced paytech, revolutionising how kiwis pay instore, online and with mobile payment solutions.
NZ stocks defy offshore trend to end stronger
Markets Market close

NZ stocks defy offshore trend to end stronger

New Zealand stocks ended strongly despite earnings downgrades and offshore trends.

Jamie Gray 6:30pm
Primary Sector

Scott Technology's revenue drops 14%

Its long term strategy is not far away.

Riley Kennedy 12:55pm
Scott Technology's revenue drops 14%
Infrastructure

The $20b plan to improve our old, risk-prone hospitals

Simeon Brown released the long-awaited plan and details of a new Dunedin Hospital tender.

Oliver Lewis 11:30am
The $20b plan to improve our old, risk-prone hospitals

More Economy

TTR files fast-track application to mine Taranaki sand
Primary Sector

TTR files fast-track application to mine Taranaki sand

Seabed mining firm Trans-Tasman Resources has lodged its application to fast-track its project to harvest iron sands off the coast of Taranaki. The firm's parent company, Manuka Resources, told the Australian Securities Exchange (NZX) on Wednesday that the application was lod...

Staff reporters 4:45pm
ANZ Bank economists expect OCR to go to 2.5%
Economy

ANZ Bank economists expect OCR to go to 2.5%

ANZ economists now expect the Reserve Bank of New Zealand will have to cut the official cash rate to 2.5% as the economic recovery progresses at a slower-than-expected pace.They had previously forecast that the Reserve Bank of NZ (RBNZ) would pause at 3%. The rate is currently si...

Staff reporters 1:55pm
RBNZ's funding for op expenses slashed in new agreement
Economy

RBNZ's funding for op expenses slashed in new agreement

The Government and the Reserve Bank of New Zealand board have agreed upon a funding agreement that will reduce budgeted operating expenses for the bank by about 25% in the coming year, Finance Minister Nicola Willis says. “The bank initially sought funding of $1.03 billion for th...

Rebecca Howard 11:15am
The cost of over-regulated banking: $10b to $14.4b a year
Finance

The cost of over-regulated banking: $10b to $14.4b a year

Critics claim a huge annual cost from 30 years of regulatory creep.

Pattrick Smellie 5:00am