NZ services sector slows in August

Mon, 17 Sep 2018

By Tina Morrison Sept. 17 (BusinessDesk) - Activity in New Zealand's services sector, which accounts for about two-thirds of the economy, slowed below its long-term average in August. The BNZ-Business New Zealand performance of services index fell to a seasonally adjusted 53.2 in August, from 54.8 in July and below the long-run average of 54.5. A reading of 50 separates expanding activity from contraction. While the survey shows the services sector is continuing its ongoing expansionary phase underway since July 2010, momentum is slowi...

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