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New Zealand performance of service index 57.9 in November: BNZ
[WELLINGTON] Growth in New Zealand's services sector rose 1.3 points in November to 57.9, the Bank of New Zealand-Business NZ's performance of services index (PSI) showed on Monday.
That made November one of the strongest months of activity in 2016, despite a deadly earthquake, as tourism boomed and a rise in net immigration drove demand for services.
"The November PSI was a picture of strength, and contributes to the broad based growth the service sector has shown over 2016," BNZ senior economist Doug Steel said in a statement.
A reading above 50 indicates expansion in activity.