Services sector growth slows

The pace of growth in New Zealand's services sector slowed in July for the second straight month, although seasonal factors may have played a part, a survey shows.

Business NZ said its Performance of Service Index (PSI) eased to 55.2 last month from 57.8 in June and 58.5 in May.

A figure over 50 indicates expansion; one under 50 indicates contraction.

Chief executive Phil O'Reilly said it was difficult to decide whether the continued easing had become a trend given that the survey was launched only four months ago.