New index shows activity bounce in May

Tue, 30 Jun 2020

New Zealand’s economic activity in May was down 6.5 percent from a year earlier, according to a new composite index from Treasury, Stats NZ and the central bank. While activity was weak, it did bounce back from April, when it had fallen 19 percent from same month in 2019, the first edition of the NZ Activity Index showed. The index summarizes changes in eight monthly activity indicators. The May rebound was driven largely by sharp bounces in electronic card spending and light and heavy traffic movements, all of which were up mo...

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