NZ services activity slows for third consecutive month in February but still expanding

Sun, 18 Mar 2018

By Rebecca Howard March 19 (BusinessDesk) - New Zealand's services sector activity, which accounts for about two-thirds of the economy, slowed for a third consecutive month in February as the activity/sales sub-index fell to its lowest level since November 2014. The BNZ-BusinessNZ performance of services index declined 0.7 points to a seasonally adjusted 55 last month. All of the five sub-indices were above the 50 reading that separates contraction from expansion. "The PSI remains encouragingly expansive. However, at the same time, i...

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