NZ services sector activity eased in February as new orders fell at a record rate

Sun, 16 Mar 2014

March 17 (BusinessDesk) – New Zealand services sector activity, which accounts for about two thirds of the economy, eased to a six month low in February, as new orders fell at the fastest rate since the survey began in 2007. The BNZ-BusinessNZ Performance of Services Index slipped to a seasonally adjusted 53.1 in February from 57.8 in January and 55.7 a year earlier. A reading above 50 indicates expansion. The measure of new orders slowed to 56.1 from 66.8 in January, which was a six-and-a-half year high. “The service sector has been fair hum...

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