18 May 2015

Service sector keeps growing

1:59 pm on 18 May 2015

The services sector continues to show expansion, despite a small dip last month.

The BNZ-Business New Zealand Performance of Services Index fell 1.1 points to 56.5 in April, compared with the previous month.

A reading above 50 points indicates expansion.

Chief executive of BusinessNZ, Phil O'Reilly, said sales and new orders remained above the 60-point mark, which bodes well for ongoing growth at least in the short term.

BNZ senior economist, Craig Ebert, said while retail spending was strong at the start of the year, spending growth looked like it would slow markedly over the three months ending in June.