The BusinessNZ Performance of Services Index in New Zealand jumped to 57.1 in January of 2020 from an upwardly revised 52.1 in the previous month. The reading pointed to the biggest expansion in services since March of 2018, mainly due to new orders (62.8 from 55.2), activity/sales (57 from 52.8, the highest level since January of 2019). Supplier deliveries (56.5 vs 48.2) saw its strongest result since June 2017 and employment also increased at a slightly faster pace (52.8 vs 52.4). Any continuation of January's result in the months ahead will depend on new business opportunities and consistent sales to drive activity further, BusinessNZ chief executive Kirk Hope said.

Services Pmi in New Zealand averaged 54.44 points from 2007 until 2020, reaching an all time high of 60.80 points in April of 2007 and a record low of 44.90 points in November of 2008. This page provides - New Zealand Services Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Business New Zealand

Services Pmi in New Zealand is expected to be 52.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services Pmi in New Zealand to stand at 53.00 in 12 months time. In the long-term, the New Zealand Services Pmi is projected to trend around 57.00 points in 2021, according to our econometric models.


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New Zealand Services Pmi

Actual Previous Highest Lowest Dates Unit Frequency
57.10 52.10 60.80 44.90 2007 - 2020 points Monthly
SA


News Stream
New Zealand Services Rise the Most in Near 2 Years
The BusinessNZ Performance of Services Index in New Zealand jumped to 57.1 in January of 2020 from an upwardly revised 52.1 in the previous month. The reading pointed to the biggest expansion in services since March of 2018, mainly due to new orders (62.8 from 55.2), activity/sales (57 from 52.8, the highest level since January of 2019). Supplier deliveries (56.5 vs 48.2) saw its strongest result since June 2017 and employment also increased at a slightly faster pace (52.8 vs 52.4). Any continuation of January's result in the months ahead will depend on new business opportunities and consistent sales to drive activity further, BusinessNZ chief executive Kirk Hope said.
2020-02-16
New Zealand Services PMI Slides to Over 7-Year Low
The BusinessNZ Performance of Services Index in New Zealand decreased to 51.9 in December 2019 from a downwardly revised 52.9 in the previous month. The latest reading pointed to the slowest expansion in services activity since September 2012 and was also well below its long-term average of 54.4. Growth slowed considerably for stocks (51.5 from 59 in November) and eased for activity (52.6 from 53.9), but gained steam for new orders (54.5 from 53.7) and employment (52.3 from 51.6). In addition, supplier deliveries fell into contraction zone (48.6 from 51.6). "December’s PSI unequivocally counsels caution for the time being. Indeed, combining the weak PSI with last week’s retreat in the PMI suggests the economy may be currently travelling at a sub-2% rate," warned BNZ Senior Economist Craig Ebert.
2020-01-20
New Zealand Services PMI at 5-Month Low
The BusinessNZ Performance of Services Index in New Zealand decreased to 53.3 in November 2019 from a downwardly revised 55.3 in the previous month. The latest reading pointed to the slowest expansion in services activity since June and was also below its long-term average of 54.4. Growth eased significantly for new orders/business (53.9 vs 61.9 in October) which was at its lowest level since September 2012; and the sub-index of activity/sales (54.1 vs 57.9) also fell to its lowest point since April 2019. Meanwhile, faster increases were seen for both employment (51. 6 from 51.5) and stocks/inventories (56.5 vs 51.8).
2019-12-15
New Zealand Services Sector Growth at 9-Month High
The BusinessNZ Performance of Services Index in New Zealand rose to 55.4 in October 2019 from an upwardly revised 54.5 in the previous month. The latest reading pointed to the fastest expansion in services activity since January and was also exactly one point above its long-term average. Both new orders (62.1 from 59.5 in September) and activity/sales (58.1 from 54.5) grew much faster. Meanwhile, employment (52.0 from 52.6) rose at a softer pace while stocks level remained barely unchanged (51.3 from 51.2).
2019-11-18

New Zealand Services Pmi
The Business NZ Performance of Services Index (PSI) is a composite index based on the diffusion indexes for sales, new orders, delivered, inventories and employment. A reading above 50 indicates an expansion of the Services sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.