The services sector in New Zealand slipped into contraction territory in November, the latest survey from BusinessNZ showed on Monday with a Performance of Services Index score of 46.7.
That’s down from the downwardly revised 50.8 in October (originally 51.4) and it falls beneath the boom-or-bust line of 50 that separates expansion from contraction.
Almost all of the sub-indices were in contraction in November. Activity/Sales (45.5) went further in contraction from last month, while New Orders (52.6) experienced lower expansion levels. Employment (49.1) remained in contraction for the ninth consecutive month, while logistical disruptions continued to be evident with Supplier Deliveries (39.8) at its lowest since April.
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