The coast is not clear for economic recovery — BNZ

Mon, 16 Nov 2020

Modest growth in the services sector is a warning against getting too cocky about the pace of New Zealand's economic recovery, says BNZ economist Craig Ebert. The BNZ-BusinessNZ performance of services index increased to 51.4 in October, up 1 point from a month earlier and below the historical average of 54. A reading above 50 separates expansion from contraction. BNZ's Ebert said this was more disappointing than a similar movement in the performance of manufacturing index because “service sectors should arguably have b...

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