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Contraction in New Zealand and US Services Sectors
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Overview
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New Zealand's services sector contracted in October, indicating a slowdown in GDP growth. The US services sector also weakened in October, with business activity slowing and employment falling below contraction territory. Despite this, the business activity index showed improvement, and business confidence remained high.
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How might the slowdown in GDP growth impact the overall economy?
What factors contributed to the contraction in the services sectors?
What measures can be taken to stimulate business activity and employment in the services sector?
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