17 Jul 2017

Service sector data steady in June

1:38 pm on 17 July 2017

Activity in the services sector remains steady with a solid pipeline of new orders.

23062016 Photo: RNZ / Rebekah Parsons-King. Busy streets in Wellington.

Photo: RNZ / Rebekah Parsons-King

The BNZ - Business New Zealand Performance of Services Index fell 0.2 points in June to 58.6, when compared with May.

A reading over 50 indicates the sector is expanding.

Activity, sales and employment indicators fell last month, but new orders rose to sit comfortably above the 60 mark.

BNZ Bank senior economist Craig Ebert said there was broad-based growth.

"The big rebound that the PSI traced in May pretty much stuck fast in June, with the latest robustness spread right across the main sub-indices," he said.

Last week, the Performance of Manufacturing Index slipped a couple of points to 56.2, with employment intentions the weakest, just edging into contraction.