NZ services sector sees growth in January, offsetting slowing housing market

Sun, 19 Feb 2017

By Sophie Boot Feb. 20 (BusinessDesk) - Activity in New Zealand's services sector, which accounts for about two-thirds of the economy, rose last month to a near-record, with ongoing strength in wholesale, retail and hospitality. The BusinessNZ-BNZ performance of services index rose 1 point to 59.5 in January, above the long-term average of 54.1, and close to the record 59.7 from September 2015. Two of the five sub-indices increased, and all remained above the level of 50 that separates expanding activity from contraction. "This is no o...

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