New Zealand's services sector shows a slight improvement but still contracts, economist says.

New Zealand's services sector is still contracting, though at a slower pace, with the October Performance of Services Index at 46.0, up slightly from 45.7 in September. Despite a slight improvement, the sector remains below the long-term average of 53.1, indicating ongoing challenges. Senior Economist Doug Steel noted a slight improvement in the outlook but emphasized that the sector faces a tough economic climate.

November 17, 2024
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