New Zealand Services Sector Records Solid Growth In December

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Business New Zealand announced on Monday that the BNZ - Business NZ Performance of Services Index stood at 54.4 in December, down from 56.0 in the previous month. A reading above 50 indicates expansion, while one below 50 suggests contraction. This marks the highest level in service sector activity ever recorded for a December since the survey began in 2007.

The boost in services activity was driven by a robust rise in sales and new orders. The sales sub-index stood at 55.1 in December, down from 58.7 in November, while the new orders sub-index eased to 60.0 from 61.1. Employment levels in the services sector stabilized in December, with the corresponding sub-index braodly unchanged at 51.1.

All four of New Zealand's main regions showed an expansion in services activity in December, with the Central region recording the biggest increase in activity during the month.

Business New Zealand announced on Monday that the BNZ - Business NZ Performance of Services Index stood at 54.4 in December, down from 56.0 in the previous month. A reading above 50 indicates expansion, while one below 50 suggests contraction. This marks the highest level in service sector activity ever recorded for a December since the survey began in 2007. (Market News Provided by RTTNews)