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.