The BusinessNZ Performance of Services Index in New Zealand increased to 52.4 in March of 2021 from an upwardly revised 49.7 in the previous month. It is the highest reading since July of 2020, mainly due to a steeper expansion in new orders (56.9 from 51.1 in February) and in activity (54.5 from 51.3). Meantime, there was a slight improvement in employment (51.8 from 51.1), while inventories (48.9 from 46.0) and supplier deliveries (43.5 from 41.0) both contracted at a softer pace. source: Business New Zealand

Services PMI in New Zealand averaged 53.80 points from 2007 until 2021, reaching an all time high of 60.80 points in April of 2007 and a record low of 26.80 points in April of 2020. This page provides - New Zealand Services Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.

Services PMI in New Zealand is expected to be 53.00 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 52.00 in 12 months time. In the long-term, the New Zealand Services PMI is projected to trend around 53.00 points in 2022, according to our econometric models.

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New Zealand Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
52.40 49.70 60.80 26.80 2007 - 2021 points Monthly
SA


News Stream
New Zealand Services PMI at 8-Month High
The BusinessNZ Performance of Services Index in New Zealand increased to 52.4 in March of 2021 from an upwardly revised 49.7 in the previous month. It is the highest reading since July of 2020, mainly due to a steeper expansion in new orders (56.9 from 51.1 in February) and in activity (54.5 from 51.3). Meantime, there was a slight improvement in employment (51.8 from 51.1), while inventories (48.9 from 46.0) and supplier deliveries (43.5 from 41.0) both contracted at a softer pace.
2021-04-18
New Zealand Services PMI Remains in Contraction
The BusinessNZ Performance of Services Index in New Zealand increased to 49.1 in February of 2021 from a revised 48.0 in the previous month. The latest reading pointed to a fourth straight month of contraction, despite activity (50.8 vs 46.9 in January) and employment (50.9 vs 46.6) returning to growth. Meantime, new orders (50.3 vs 53.3) expanded at a much softer pace.
2021-03-14
New Zealand Services PMI Contracts for Third Month
The BusinessNZ Performance of Services Index in New Zealand decreased to 47.9 in January of 2021 from a revised 49.1 in the previous month. The latest reading pointed to a third straight month of contraction, as both activity (46.4 from 51.0 in December) and employment (46.9 from 52.8) dipped into negative territory. On the other hand, new orders (53.7 from 50.9) expanded further.
2021-02-14
New Zealand Services PMI Remains in Contraction
The BusinessNZ Performance of Services Index in New Zealand increased to 49.2 in December of 2020 from 46.7 in the previous month. It was the second contraction in the services sector since May, despite activity (51.3 vs. 45.8 in November) and employment (51.7 vs. 49.3) returning to growth. New orders remained in expansion, albeit booking a weaker growth pace of 50.6 points compared to 52 in November. Both the indices of stocks (47.9 vs. 45.3) and supplier deliveries (39.5 vs. 39.1) remained in contraction territory. BNZ Senior Economist Craig Ebert said that "activity indicators such as these have had their work cut out lately, in trying to nail GDP to the nearest percent. In any case, the composite index is consistent with our view that NZ real GDP will be broadly flat over the six months to March 2021".
2021-01-25

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.