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WELLINGTON， Aug. 15 (Xinhua) -- Growth in New Zealand's services sector slowed to its lowest rate in almost two years in July， according to the latest performance of services index (PSI) out Monday.


The BNZ-Business New Zealand PSI for last month was 54.2， on a scale where above 50 indicates expansion and below 50 contraction.


The level was 2.2 points down from June， and the lowest value since November 2014.


Business New Zealand chief executive Kirk Hope said in a statement that despite the dip in expansion levels， the primary components involving activitysales and new ordersbusiness remained very healthy.


The GDP-weighted performance of composite index， which combines the PSI and the performance of manufacturing index (PMI)， in July was down 2.2 points to 54.5 last month.


The numbers from the PSI and PMI inferred that New Zealand's annual gross domestic product was growing at around 3 percent， BNZ senior economist Doug Steel said in a statement.


"With July's PSI around about average， and the PMI holding above its norm， combined they suggest the economy is expanding at a rate around， or slightly above， trend，" said Steel.




TOKYO， Aug. 26 (Xinhua) -- Japan's core consumer prices declinedfor a fifth straight month in July， the biggest fall in threeyears， according to government figures on Friday， adding morepressure on the central bank to ease its monetary policy and boostits reflationary efforts.


The 0.5 percent drop in July was attributable to a slump inprices for crude oil. The decline marked the biggest annual declinesince March 2013， the Ministry of Internal Affairs andCommunications said.


The latest figures came on the heels of a revised 0.4 percentdrop a month earlier and median market analysts believe the Bank ofJapan (BOJ) will now have little choice but to expand its alreadyhefty easing program following its policy board meeting towards theend of next month.


The ministry's data showed that the core consumer price index，which excludes volatile fresh food prices， stood at 99.6 againstthe 2015 base of 100.


The latest figures reinforces a predominant market view thatPrime Minister Shinzo Abe's stimulus programs， as part of his"Abenomics" multi-pronged， aggressive economic policies， have comeup short and failed to spur both business and consumerspending.


Despite the latest installment of "Abenomics，" Japan's economystalled in the April-June quarter， expanding an annualized 0.2percent in real terms with the figure coming in below economists'expectations.


The second quarter growth of the world's third-largest economymissed market expectations for between a 0.4 and a 0.7 percentexpansion in the recording period， with the government pointing toa slowdown in overseas economies， the strength of the yen andslumping private consumption as all contributing to thestagnation.


But sluggish exports have also been weighing on the economy，underscoring withdrawing overseas demand and the negative impact ofthe yen's ongoing appreciation， while consumer spending， whichaccounts for 60 percent of total gross domestic product has al. Air Max Sale Cheap Air Max Cheap Air Max Cheap Air Max 90 Air Max 90 Sale Air Max Outlet Air Max 90 Outlet Wholesale Soccer Jerseys Cheap Wholesale Adidas NHL Jerseys Wholesale NFL Football Jerseys