New Zealand Services Activity Growth Slows In January

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Business New Zealand announced on Monday that the BNZ - Business NZ Performance of Services Index stood at 53.1 in January, down from 54.4 in the previous month. A reading above 50 indicates expansion, while one below 50 suggests contraction.

For the third consecutive month, all sub-indices were in expansion mode. The sales sub-index stood at 53.6 in January, down from 55.1 in December, while the new orders sub-index eased to 56.1 from 60.0. Employment levels in the services sector increased at a faster pace in January, with the corresponding sub-index rising to 52.7 from 51.1.

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

Business New Zealand announced on Monday that the BNZ - Business NZ Performance of Services Index stood at 53.1 in January, down from 54.4 in the previous month. A reading above 50 indicates expansion, while one below 50 suggests contraction. (Market News Provided by RTTNews)