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New Zealand Services Sector Slows In June - BusinessNZ

The services sector in New Zealand continued to expand in June, albeit at a slower pace, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 52.7.

That's down from 53.5 in May, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

"The first 6 months of 2019 represented the lowest overall average activity result for that timeframe since late 2012/early 2013. While the index has yet to get very close to the no change mark of 50, nor has it shown any signs of building momentum to pick up pace," BusinessNZ chief executive Kirk Hope said. "New orders/business (54.8) continued it slowly slide to its lowest level since September 2012. Employment (50.9) has managed to again only just keep its head above water, while supplier deliveries (49.4) again fell back into contraction."

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