The services sector continues to contract. 

The latest Services Index rose 2.7 points to 48.9 – with anything below 50 signalling contraction. 

New orders was the only category in expansion, sitting at 51.2, while employment remained negative for the 29th consecutive month.  

BusinessNZ Advocacy Director Catherine Beard told Mike Hosking the figures are the result of the fuel situation due to the conflict in the Middle East.  

It’s a shame, she says, as we started the year in quite positive territory.  

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