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.