NZ services sector activity expands in December for eighth month

Sun, 26 Jan 2014

Jan. 27 (BusinessDesk) - New Zealand services sector activity picked up in December for its eighth monthly expansion, in the latest sign the economy is gathering momentum. The BNZ-BusinessNZ performance of services index rose 1.1 points to 57.5 in December, and was up from 52.5 a year earlier. A reading of 50 or higher indicates the sector is in expansion, while a reading below 50 indicates a contraction. The PSI was led by new orders/business at a reading of 62.4, up from 60.8 in November, followed by activity/sales which rose 1.5 points...

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