Delay follows unconfirmed reports the Dunedin City Council is considering writing off $400,000 in debt owed in rent for use of the old Carisbrook rugby ground.

The New Zealand dollar took a further tumble over night, dropping through below the 75USc level.

New Zealand’s manufacturing sector – usually one of the most pessimistic parts of the economy – is singing the recovery song.

The latest Bank of New Zealand/Business New Zealand Performance of Manufacturing Index (PMI) further nudged into positive territory in February.

The service sector has recorded the highest level of activity since November 2007, with activity or sales and new orders or business driving expansion in the lead-up to Christmas.

Business New Zealand chief executive Phil O’Reilly said while it was not a surprise given seasonal factors, the lift was encouraging.

The BNZ Capital – Business NZ Performance of Services Index (PSI) was 6.1 points up from October, to 56.0 points.

A reading above 50 indicates the service sector is growing, but declining below 50. The average in 2007 was 58.1 and 49.1 in 2008.