August 13, 2017 / 10:32 PM / a year ago

NZ service activity falls to 56.0 in July -BNZ survey

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

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