NZ services sector shows smallest expansion in nearly 5 1/2 years in June

Sun, 15 Jul 2018

By Rebecca Howard July 16 (BusinessDesk) - New Zealand's services sector activity, which accounts for about two-thirds of the economy, slowed to its smallest expansion in June since December 2012, according to the BNZ-BusinessNZ performance of services index (PSI). The PSI for June was 52.8, which was 4.3 points lower than the May reading. A PSI reading above 50 indicates that the service sector is generally expanding; below 50 that it is contracting. The last time is fell below 50 was July 2010. "While some have discounted weak busine...

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