The Business NZ Performance of Services Index in New Zealand decreased to 46.9 in August of 2020 from an upwardly revised 54.4 in the previous month. Both activity (43.8 from 54.9 in July) and new orders (47.1 from 55.8) slipped into contraction territory while employment contracted further (47.0 from 49.7).
Services Pmi in New Zealand averaged 53.98 points from 2007 until 2020, reaching an all time high of 60.80 points in April of 2007 and a record low of 26.10 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 September of 2020. source: Business New Zealand
Services Pmi in New Zealand is expected to be 48.50 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 51.50 in 12 months time. In the long-term, the New Zealand Services Pmi is projected to trend around 52.50 points in 2021 and 53.00 points in 2022, according to our econometric models.