18 Jul 2011

Services sector activity grows

1:11 pm on 18 July 2011

Activity in the services sector continues to expand led by a pick-up in new orders.

The BNZ Business New Zealand Performance of Services Index rose 1.7 points to 54.7 in June. The index has now risen for five months in a row.

A reading above 50 indicates the service sector is generally expanding.

The new orders sub-index recorded its highest result in a year while the indices measuring sales, employment and stock also rose.

Meanwhile the BNZ Business New Zealand Performance of Composite Index - which measures activity in the manufacturing and services sector - rose 1.5 points to 54.8 on a GDP-weighted basis in June.