Off the wire
• 1st LD Writethru: Japan's trade deficit hits record 12.78 trillion yen in 2014  • Africa Cup of Nations results  • Xinhua China news advisory -- Jan. 26  • Mixed signals: Xiaomi connects with the market  • Chinese leaders congratulate India on Republic Day  • Clash in S. Philippines not imperil peace talks: rebel chief  • 4 die in fire in Gambia  • Bangladesh's imports surge 11.36 pct in five months  • Algeria to lift ban on private investment in civil aviation  • U.S. dollar gains more ground on Albanian lek  
You are here: 　 Home

New Zealand services grow at record rate in 2014

Xinhua, January 26, 2015 Adjust font size:

New Zealand's services sector grew at a record rate last year, according to the latest performance of services index (PSI) out Monday.

The BNZ-Business New Zealand PSI for December was 56.5 -- on a scale where above 50 indicates expansion and below 50 contraction - - up 1.8 points from November and equal to the monthly average for the entire year.

"With the sector averaging 56.5 over 2014, this was the highest yearly average score for a full calendar year since the survey began in 2007," said Business New Zealand chief executive Phil O' Reilly.

The survey showed nothing to suggest the expansion should not continue into 2015, he said.

All five main sub-indices were also in expansion, with new orders/business at 60.3, activity/sales at 57.3, supplier deliveries on 56.2, stocks/inventories on 54.8 and employment on 51.9.

The GDP-weighted performance of composite index, which combines the performance of manufacturing index and PSI, for December was up 2.6 points from November to 56.7 and also averaged 56.5 over 2014. Endi