The services sector in New Zealand continued to expand in August, albeit at a slightly slower rate, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 54.6.
That’s down slightly from 54.8 in July, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, sales, employment, new orders, stocks and supplier deliveries all remained well in expansion territory.
“We don’t believe the services sector is giving up the ghost. The PSI backs this up. Then again, it is important that this continues, to offset the tough times the manufacturing sector is getting mired in,” BNZ Senior Economist Craig Ebert said.
The material has been provided by InstaForex Company – www.instaforex.com