19 Mar 2012

Services sector expands

7:20 pm on 19 March 2012

Activity in the services sector has reached a new record.

The BNZ-Business NZ Performance of Services Index rose nearly 2 points to 55.5 in February, the highest result for a February since the survey began in 2007.

A reading above 50 means the sector is expanding.

All of the five groups that are measured are expanding, led by new orders and business at 60.5, activity and sales at 58.1 and supplier deliveries at 52.3.