New Zealand’s services sector experienced a decline in expansion during June, according to the BNZ – BusinessNZ Performance of Services Index (PSI). The PSI for June was 50.1 (A PSI reading above 50.0 indicates that the service sector is generally expanding; below 50.0 that it is declining). This was down 3.0 points from May, and all but at the level of no change in activity. It was also well below the long-term average of 53.6 for the survey. BusinessNZ chief executive Kirk Hope said that while the sector just managed to keep its head above water during June, overall activity levels for the last three months have ... (full story)