After 10 consecutive months of contraction, New Zealand’s services sector exhibited slight expansion during January, according to the BNZ – BusinessNZ Performance of Services Index (PSI). The PSI for January was 50.4 (A PSI reading above 50.0 indicates that the service sector is generally expanding; below 50.0 that it is declining). BusinessNZ’s CEO, Katherine Rich said that like its sister survey, the PSI has also waited an extended period of time to get back into expansion mode.