Larry Williams Drive

Service sector activity has plummeted to its lowest level outside the Covid lockdowns.  The BNZ-Business New Zealand Performance of Services Index (PSI) fell 3.6 points in May to 43.0.  Business NZ Chief Executive Kirk Hope told Heather du Plessis-Allan “It’s consistent with other data – like profit margins being below pre-Covid rates.”  Hope said “Corporate insolvencies are around the same level as during the GFC – it's a pretty tough time.”  LISTEN ABOVE. See omnystudio.com/listener for privacy information.