New Zealand's services sector index rose 3.9 points to 44.6 in July, but remains below 50.
New Zealand's services sector saw a slight improvement in July, with the BusinessNZ performance of services index rising 3.9 points to 44.6. Despite this uptick, the sector remains weak and below the 50-point mark, while the cost of living and interest rates continue to impact businesses. The Reserve Bank's recent cut in the official cash rate to 5.25% has not yet significantly influenced the sector's recovery.
August 18, 2024
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