The services sector in New Zealand continued to expand ion November, albeit at a slower pace, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 53.5.
That's down notably from 55.4 in October, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Among the individual components of the survey, sales, employment, new orders and stocks continued to expand, while supplier deliveries fell into contraction.
"Overall, the latest PSI result adds to the evidence that growth in the service sector has settled at a slower pace over the past six months compared to what prevailed previously," BNZ Senior Economist Doug Steel said.
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