19 Dec 2011

Services sector expanding

1:30 pm on 19 December 2011

Activity in the services sector is showing signs of bouncing back.

The BNZ-Business New Zealand Performance of Services Index rose almost 6 points to 56.6 in November, led by new orders and sales.

A reading above 50 shows the sector is expanding.

The result is the highest since March last year.

BNZ economist Doug Steel says too much should not be made of one strong month of data, however the pick-up is in line with improvements in other indicators from the service sector.