NZ services sector slows in July as wintry weather bites

Sun, 13 Aug 2017

By Tina Morrison Aug. 14 (BusinessDesk) - New Zealand's services sector, which accounts for about two-thirds of the economy, weakened in July as wet and wintry conditions hampered business activity. The BusinessNZ-Bank of New Zealand performance of services index (PSI) slipped 2.3 points to 56 in July from June, reaching its lowest level since April when activity was dented by a combination of school holidays and unseasonably wet weather. A reading of 50 separates expansion from contraction, and New Zealand's services sector has been in e...

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