New Zealand Services Sector Slows In July - BusinessNZ

The services sector in New Zealand continued to expand in July, albeit at a slower pace, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 51.2.

That's down from 55.4 in June, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, sales (54.4), new orders (52.5) and inventories (53.1) expanded, while supplier deliveries (47.3) and employment (49.2) contracted.

"It is difficult to be sure from one month's data, but July's outcome is the lowest since February, has retreated further from the recent 54.9 peak set in May, and is back below average," BNZ Senior Economist Doug Steel said.

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