New Zealand sales activity falls 1.2 points in September: BNZ survey

[WELLINGTON] Growth in New Zealand's services sector slipped in September as an inconclusive general election hit sales activity, a survey showed on Monday.

The Bank of New Zealand-Business NZ's seasonally adjusted performance of services index (PSI) fell 1.2 points to 56.0 from the previous month.

A reading above 50 indicates expansion in activity.

There was a "higher number of negative comments specifically mentioning uncertainty around the general election," Business NZ chief executive Kirk Hope said in a statement.

The country has been in political limbo since Sept 23 when neither the National Party, which has led the government since 2008, nor the Labour Party, won enough seats to form a government.

REUTERS