Services sector indicator bodes ill for labour market

Mon, 15 Jun 2020

Activity in the country’s services sector – which accounts for about two-thirds of the economy – bounced back from the lockdown doldrums in May, but still points to a souring labour market.The Business NZ-Bank of New Zealand performance of services index rose 11.5 points to a seasonally adjusted 37.2, indicating activity shrank at a slower pace than in April when activity was limited to those firms deemed essential.The recovery was in line with the performance of manufacturing index. However, like its sister survey, the employ...

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