New Zealand performance of service index 58.8 in February: BNZ
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[WELLINGTON] Growth in New Zealand's services sector eased slightly in February mainly due to a slowdown in new business, a survey showed on Monday.
The Bank of New Zealand-Business NZ's seasonally adjusted performance of services index (PSI) fell to 58.8 from 59.5 in the previous month.
A reading above 50 indicates expansion in activity.
Despite the fall, the figure is the second-highest level of expansion since November 2015.
Last week, a companion manufacturing survey (PMI) showed a rise in activity for that sector.
REUTERS
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