According to CoinMeta, New Zealand's service sector continued to expand in July. The Business New Zealand Services Performance Index (_PSI) was 50.6, slightly lower than 50.9 in June but higher than 48.1 in May. This is the second consecutive month that the index has remained above the 50.0 threshold that separates expansion from contraction. Although the performance of the service sector remains positive, weak sub-indicators for employment and supplier delivery indicate that the recovery is still fragile. Katherine Ritchie, CEO of Business New Zealand, stated that it is encouraging to see the PSI remaining in the expansion zone for the second consecutive month, despite a slowdown in growth rates.