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Financial News: New Zealand Services Sector Slows In September -

New Zealand Services Sector Slows In September - BusinessNZ

10/13/2019 - 20:25:00 (RTTNews)

(RTTNews) - The services sector in New Zealand continued to expand in September, albeit at a slower rate, the latest survey from BusinessNZ showed on Monday with a Performance of Services Index score of 54.4.

That's down from 54.6 in August, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.

Among the individual components of the survey, sales (54.4), supplier deliveries (50.5), stocks (51.8), employment (52.7) and new orders (59.3) all continued to expand last month.

"The fact that new orders/business (59.3) improved to its highest result since January should assist with general business activity going forward. However, looking more broadly the gap in performance between the services and manufacturing sectors persists. With other key economic data showing a general trend decline, the question becomes to what degree will the services sector be affected by slowing influences elsewhere in the months ahead," BusinessNZ chief executive Kirk Hope said.

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