NZ services sector strong in February, points to growth in year ahead

Sun, 19 Mar 2017

By Sophie Boot March 20 (BusinessDesk) - Activity in New Zealand's services sector, which accounts for about two-thirds of the economy, dipped slightly last month but remains strong with broad-based growth. The BusinessNZ-BNZ performance of services index fell 0.7 points to 58.8 in February, above the long-term average of 54.1. Three of the five sub-indices increased, and all remained above the level of 50 that separates expanding activity from contraction. Bank of New Zealand economist Doug Steel said the tight range in the PSI of 58....

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