WELLINGTON, Aug 14 (Reuters) - Growth in New Zealand’s services sector slowed in July as the winter weather curbed activity, a survey showed on Monday.
The Bank of New Zealand-Business NZ’s seasonally adjusted performance of services index (PSI) dropped 2.3 points to 56.0, its lowest since April.
A reading above 50 indicates expansion in activity.
“Looking at comments from respondents, a number of negative comments centred on wet and wintery conditions hampering business activity,” Business NZ chief executive Kirk Hope said in a statement accompanying the data.
Reporting by Charlotte Greenfield