New Zealand's Services Sector Growth Slows In February

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New Zealand's services sector growth slowed slightly in February, data from BusinessNZ showed Monday.

The BNZ-BusinessNZ performance of services index dropped 0.7 points to 55.0 in February. It was the third consecutive decrease in expansion levels and the lowest since April 2017.

Nonetheless, a reading above 50.0 indicates expansion.

BNZ Senior Economist Craig Ebert, said "the PSI remains encouragingly expansive, although it has slowed to about average, compared to its roaring rate of advance about this time last year".