NZ services sector activity slows to 20-month low in July

Sun, 14 Aug 2016

By Sophie Boot Aug. 15 (BusinessDesk) - New Zealand's services sector, which accounts for about two-thirds of the economy, slowed in July to its lowest point in 20 months, ending a run of above-average expansion. The BNZ-BusinessNZ performance of services index fell 2.4 index points to a seasonally adjusted 54.2 last month, with all five sub-indices dropping. That's the lowest reading since November 2014, and in line with the long-run average for the survey of 54.2, where a reading of 50 which separates contraction from expansion. "S...

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