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Financial News: New Zealand Services Growth Highest Since Sep 2015

New Zealand Services Growth Highest Since Sep 2015

02/20/2017 - 01:23:00 (RTTNews)

(RTTNews) - New Zealand's service sector activity expanded at the fastest pace in nearly two-and-a-half years in January, survey figures from Business NZ showed Monday.

The performance of services index, or PSI, climbed 59.5 in January from 58.5 in December. Any reading above 50 indicates expansion in the sector.

Moreover, the latest rate of growth was the quickest since September 2015.

"While activity/sales remained above the 60-point mark, new business/orders reached its highest level since January 2014, which should flow through to overall activity over the coming months," Business NZ chief executive Kirk Hope, said.

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