NZ services sector activity rebounds in March to near a 7-year high

Sun, 13 Apr 2014

By Suze Metherell April 14 (BusinessDesk) – New Zealand services sector activity, which accounts for about two thirds of the economy, rebounded in March to reach 2007 levels, after a drop off in February. The BNZ-BusinessNZ performance of services index rose to a seasonally adjusted 58.3 in March, from February’s 53.1 and up from 55.2 a year earlier. A reading above 50 indicates expansion. Last month the PSI snapped nine consecutive months of growth in expansion as new orders had the biggest drop since the survey began in 2007. “The expans...

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