16 November 2009, 09:35  New Zealand: services industry contracted

New Zealand’s services industry contracted for the first time in fourth months in October, a sign the nation’s recovery from recession may be prolonged. The performance of services index was 49.9 in October from 53.2 the previous month, Bank of New Zealand Ltd. and Business New Zealand. A reading above 50 indicates services industries including retail, property and health, are expanding.

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