New Zealand Services Sector Slows In November

(RTTNews) - The services sector in New Zealand continued to expand in November, albeit at a slower rate, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 53.3.

That's down from 55.3 in October, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Among the individual components of the survey, sales, employment and new orders remained firmly in expansion territory. Stocks and inventories fell into contraction after expanding in the previous month, while supplier deliveries fell deeper into contraction.

November's result puts the index below its long-term norm of 54.4.