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New Zealand's services sector shrank in November, marking six straight months of decline due to weak demand and high costs.
New Zealand's services sector contracted further in November, with the BusinessNZ PSI falling to 46.9—the lowest since May—marking six straight months of decline.
All sub-indicators worsened, driven by weak consumer demand, high living costs, inflation, and elevated interest rates.
The retail sector showed unexpected strength, possibly due to seasonal sales, but overall growth remains fragile.
Analysts warn the economy faces ongoing challenges, with recovery expected to be uneven and slow.
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El sector de servicios de Nueva Zelanda se redujo en noviembre, marcando seis meses consecutivos de declive debido a la débil demanda y los altos costos.