NZ services sector activity slows near 5-year low as school holidays, poor weather weigh

Sun, 14 May 2017

By Paul McBeth May 15 (BusinessDesk) - New Zealand's services sector, which accounts for about two-thirds of the economy, shuffled along at its slowest pace in almost five years as a combination of school holidays and unseasonably wet weather were seen as weighing on activity. The BusinessNZ-Bank of New Zealand performance of services index dropped 6 points to 52.8 in April, its lowest level since December 2012 and a slide from what was the second-highest reading in the prior 18 months. A reading of 50 separates expansion from contractio...

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