New Zealand service sector activity rises in January: BNZ

[WELLINGTON] Growth in New Zealand's services sector grew in January, with the Bank of New Zealand-Business NZ's seasonally adjusted services index (PSI) reaching the second-highest level in the past 10 years.

The index rose 1 point from the previous month to 59.5, just shy of the 59.7 touched in 2015.

A reading above 50 indicates expansion in activity.

Gains were broad-based and new business and order activity increased to its highest in three years, pointing to continued service activity growth in the coming months.


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