NZ services sector remains in expansion in July, led by new orders

Sun, 19 Aug 2012

Aug. 20 (BusinessDesk) - New Zealand’s services sector remained in expansion in July, though the pace eased for a second straight month. New orders/business continued to show the strongest growth. The seasonally adjusted BNZ-BusinessNZ Performance of Service Index fell 0.8 points to 53.1 in July, following a 3.3 point decline in June. The survey shows services are holding up better than manufacturing in the tepid New Zealand economy. The Performance of Manufacturing index, released last week, showed a contraction and the lowest reading for...

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