New Zealand’s services sector experienced a return to expansion in September, according to the BNZ – BusinessNZ Performance of Services Index (PSI). The PSI for September was 50.7 (A PSI reading above 50.0 indicates that the service sector is generally expanding; below 50.0 that it is declining). This was up 3.0 points from August, although still below the long-term average of 53.5 for the survey. BusinessNZ chief executive Kirk Hope said that the September result broke the trend of three consecutive months in contraction for the sector. New Orders/Business (53.9) led the charge, while Activity/Sales (50.9) picked up ... (full story)