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Services sector dips in October, supply-side indicators weaken

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20.11.2017

New Zealand's services sector, which accounts for about two-thirds of the economy, dipped marginally in October although activity remained robust despite political uncertainty at the time.

The BNZ-BusinessNZ performance of services index fell 0.3 points to a seasonally adjusted 55.6 last month. All of the five sub-indices were above the 50 reading that separates contraction from expansion, however three fell in the month.

The PSI comes after its sister survey, the performance of manufacturing index, showed manufacturing activity continued to expand in October, down 0.4 points to 57.2........

© The National Business Review