The Business NZ Performance of Services Index in New Zealand rose to 58.6 in June of 2021 from an upwardly revised 56.3 in the previous month, signalling a stronger expansion in the service sector. At the same time, the three-month average stood at 58.7, the second strongest quarter on record, only surpassed by the average seen in the quarter ending June of 2007. Main upward pressure came from New Orders/Business (66.1) and Activity/Sales (62.5). Businesses reported higher staffing levels (56.5), although struggles in hiring new employees were broad. Meanwhile, the more supply-focused indices, namely Stocks/Inventory (50.9) and Supplier Deliveries (46.2) remained weak. BusinessNZ Senior Economist Craig Ebert added that “the PSI and PMI signal a hefty rate of growth in economic activity (...) suggesting the economy is running headlong into even-worse capacity constraint, and, with it, serious inflation pressure”. source: Business New Zealand
Services PMI in New Zealand averaged 53.89 points from 2007 until 2021, reaching an all time high of 61.20 points in April of 2021 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 July of 2021.
Services PMI in New Zealand is expected to be 57.00 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 53.00 points in 2022, according to our econometric models.