NZ services sector edges back to growth in June

New Zealand's services sector returned to expansion in June for the first time since January, though the recovery remains fragile.

The BNZ-BusinessNZ Performance of Services Index rose to 50.6 from 48.0 in May. A reading above 50 signals growth. BusinessNZ called the recovery tentative, suggesting the sector is not yet on firm footing.

The index had been in contraction for five consecutive months before the June print. The reading offers a modest positive signal for the broader economy, which has been under pressure from weak domestic demand and a tight labour market.

No other data releases are scheduled for the Asian session Monday. The calendar is empty until Tuesday's Australian consumer confidence print and New Zealand's electronic card spending figures.