NZ services growth slows in March, echoing slowdown in manufacturing

Mon, 18 Apr 2016

By Sophie Boot April 19 (BusinessDesk) - Growth in New Zealand's services sector, which accounts for about two-thirds of the economy, eased in March, echoing a slowdown in the pace of manufacturing. The BNZ-BusinessNZ performance of services index fell 1.9 points to a seasonally adjusted 54.8 last month, the lowest level of expansion since November 2014. All of the five sub-indices were above the 50 reading that separates contraction from expansion. "When the data is smoothed, it becomes clear over the last few months that momentum in...

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