Arab Today, arab today new zealand services continue strong growth in june
Last Updated : GMT 02:18:28
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Arab Today, arab today

New Zealand services continue strong growth in June

Arab Today, arab today

Arab Today, arab today New Zealand services continue strong growth in June

New Zealand services continue strong growth
Wellington - XINHUA

New Zealand's services sector maintained a healthy rate of growth last month, according to the latest performance of services index (PSI) out Monday.

The BNZ-Business New Zealand PSI for June was 58.2, up 0.1 point from May, on a scale where above 50 indicates expansion and below 50 contraction.

It was also the highest overall value since July last year.

Business New Zealand chief executive Phil O'Reilly said in a statement that the consistent level of expansion over the first six months of 2015 had been helped by both activity/sales and new orders remaining within a fairly tight band of expansion.

"Combined with the improved PMI (performance of manufacturing index) reading for June (55.2) the latest PSI paints a picture of an economy expanding robustly, probably a little better than average," BNZ senior economist Craig Ebert said in the statement.

The gross domestic product-weighted performance of composite index, which combines the PMI and PSI, was up 0.6 points in June to 57.8.

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