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New Zealand Performance Of Services Index Jumps To 58.8

The services sector in New Zealand continued to expand in March, and at a faster rate, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 58.8.

That's up from the upwardly revised 55.3 in February (originally 55.0), and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, all five main indices expanded, including stocks/inventories, new orders/business, employment, activity/sales and supplier deliveries.

"Given both the PSI and its sister survey the Performance of Manufacturing Index (PMI) have recently shown activity levels down on 2017, the lift in March is welcome," BusinessNZ chief executive Kirk Hope said.

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