NZ services sector stalls in August

Sun, 16 Sep 2012

By Hannah Lynch Sept 17 (BusinessDesk) - New Zealand's services sector stalled in August, led by a fall in employment and activity and sales, according to the BNZ-BusinessNZ performance of services index (PSI). The index was 50 in August from a revised 52.4 points in July. A reading above 50 indicates expansion. That's the lowest value for the month of August since 2008. The decline was led by employment, down 5.8 points to 46.5, at its lowest point since July 2009; followed by activity and sales slipping 0.8 points to 51; and supplier de...

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