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New Zealand Performance Of Service Index Slows In April

The services sector in New Zealand continued to expand in April, albeit at a slower pace, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 51.8.

That's down from 52.3 in March, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

The April reading was the third straight monthly decline and the lowest index reading since September 2012.

Individually, sales, supplier deliveries and new orders expanded, while stocks and employment were in contraction.

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