19 Jul 2010

Most of service sector continuing to grow

5:17 pm on 19 July 2010

Service-sector activity is continuing to grow, despite some weakness remaining in hospitality and retailing businesses.

The BNZ-Business New Zealand Performance of Service Index grew in June, rising 2.2 points on May to reach 55.7.

Anything above 50 shows the sector is expanding.

The senior economist at BNZ, Craig Ebert, says this tallies with the results seen in the bank's Performance of Manufacturing Index, which also improved last week.

Mr Ebert says sectors such as property and business services are continuing to see strong growth, but retail and hospitality remained weak.

On a regional basis, Mr Ebert says, the results improve the further north you go.