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New Zealand Service Sector Ebbs In April – BusinessNZ

The service sector in New Zealand continued to expand in April, albeit at a slightly slower rate, the latest survey from BusinessNZ showed on Monday with a Performance of Service Index score of 51.4.

That’s down from 51.6 in March, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Among the components, sales (52.7), employment (51.2), new orders (53.6) and stocks (54.8) all expanded, while supplier delivers (40.1) tumbled.

“For large parts of the service sector that have been through the ringer over recent times, we suspect any result above breakeven would be welcomed. But, on the other hand, April’s result also looks somewhat disappointing in the context of easing COVID restrictions from Red to Orange halfway through the month,” BNZ Senior Economist Doug Steel said.

The material has been provided by InstaForex Company – www.instaforex.com