NZ services sector returns to growth as PSI hits 50.6 in June

June's move back above the 50.0 breakeven line offers the first tangible sign that New Zealand's services sector, which makes up the bulk of the economy, is stabilising after a prolonged soft patch, and combined with the reported surge in the manufacturing index it strengthens the case for a pickup in headline GDP growth toward around 2.0%. The narrow bread…

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