WELLINGTON, Jan 23 (Reuters) - Growth in New Zealand's services sector slowed in December during a quiet summer holiday period, a survey showed on Tuesday.
The Bank of New Zealand-Business NZ's seasonally adjusted performance of services index (PSI) edged down to 56.0 from 56.4 in the previous month.
"There was a heavy seasonal factor at play, with Christmas and the holiday period being a key influence," Business NZ chief executive Kirk Hope said in a statement accompanying the release.
A reading above 50 indicates expansion in activity. Despite the slow-down, the result was much less dramatic than a companion survey released the previous week, which had showed manufacturing activity had sunk to a five-year low in December.
"Had the PSI done so too, we would have been much more concerned that the economy might be choking back a bit," said Craig Ebert, BNZ economist.
