New Zealand's services sector recorded expansion in November, according to the BNZ - BusinessNZ Performance of Services Index (PSI). The PSI for November was 51.2 (A PSI reading about 50.0 indicates that the service sector is generally expanding; below 50.0 that it is declining). This was up 2.0 points from October, although still below the long-term average of 53.3 for the survey. BusinessNZ chief executive Kirk Hops said that the last few months has seen the sector bounce between contraction and expansion. That degree of contrast was also evident with the key November sub-index results for New Orders/Business ... (full story)