Activity in New Zealand's services sector continued to expand in December, with accommodation, cafe and restaurant activity leading the way, the latest BNZ-Business NZ Performance of Services Index (PSI) showed.
The PSI recorded a score of 54.4 in December, and although this was down from 56 in November, it was the highest December score since the series began in 2007. A score over 50 indicates an expansion of activity in the sector, while a score below 50 indicates contraction. The PSI is not yet seasonally adjusted.
With the exception of October 2009 (49.9), the PSI has indicated expansion of activity since July 2009 and was strengthened through the winter by large numbers of Australian tourists coming to New Zealand to go skiing.
- INTEREST.CO.NZ
Service sector picking up
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