The coast is not clear for economic recovery — BNZ

The coast is not clear for economic recovery — BNZ
Staff reporters
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...