The BusinessNZ Performance of Services Index in New Zealand decreased to 51.9 in December 2019 from a downwardly revised 52.9 in the previous month. The latest reading pointed to the slowest expansion in services activity since September 2012 and was also well below its long-term average of 54.4. Growth slowed considerably for stocks (51.5 from 59 in November) and eased for activity (52.6 from 53.9), but gained steam for new orders (54.5 from 53.7) and employment (52.3 from 51.6). In addition, supplier deliveries fell into contraction zone (48.6 from 51.6). "December’s PSI unequivocally counsels caution for the time being. Indeed, combining the weak PSI with last week’s retreat in the PMI suggests the economy may be currently travelling at a sub-2% rate," warned BNZ Senior Economist Craig Ebert. Services Pmi in New Zealand averaged 54.41 points from 2007 until 2019, 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. source: Business New Zealand

Services Pmi in New Zealand is expected to be 53.20 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 2020, according to our econometric models.


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New Zealand Services Pmi

Actual Previous Highest Lowest Dates Unit Frequency
51.90 52.90 60.80 44.90 2007 - 2019 points Monthly
SA


News Stream
2019-12-15
New Zealand Services PMI at 5-Month Low
The BusinessNZ Performance of Services Index in New Zealand decreased to 53.3 in November 2019 from a downwardly revised 55.3 in the previous month. The latest reading pointed to the slowest expansion in services activity since June and was also below its long-term average of 54.4. Growth eased significantly for new orders/business (53.9 vs 61.9 in October) which was at its lowest level since September 2012; and the sub-index of activity/sales (54.1 vs 57.9) also fell to its lowest point since April 2019. Meanwhile, faster increases were seen for both employment (51. 6 from 51.5) and stocks/inventories (56.5 vs 51.8).

2019-11-18
New Zealand Services Sector Growth at 9-Month High
The BusinessNZ Performance of Services Index in New Zealand rose to 55.4 in October 2019 from an upwardly revised 54.5 in the previous month. The latest reading pointed to the fastest expansion in services activity since January and was also exactly one point above its long-term average. Both new orders (62.1 from 59.5 in September) and activity/sales (58.1 from 54.5) grew much faster. Meanwhile, employment (52.0 from 52.6) rose at a softer pace while stocks level remained barely unchanged (51.3 from 51.2).

2019-10-13
New Zealand Services Activity Growth at 3-Month Low
The BusinessNZ Performance of Services Index in New Zealand decreased to 54.4 in September 2019 from 54.6 in August. The latest reading pointed to the weakest expansion in the services activity since June and was also exactly at the long-term average. Slower growth was recorded for sales (54.4 from 56.1 in August); employment (52.7 from 53.4); stocks (51.8 from 53.5) and supplier deliveries (50.5 from 51.6). On the other hand, new orders advanced to 59.3 in September from 56.9 in August, its highest since January.

2019-09-15
New Zealand Services Growth Steady in August
The BusinessNZ Performance of Services Index in New Zealand was little-changed at 54.6 in August 2019, compared to a revised 54.8 in the previous month. Of the main sub-indexes, production decreased 1.2 points to 56.1, while new orders 1.6 points to 56.8.

2019-08-18
New Zealand Services PMI at 6-Month High
The Business NZ Performance of Services Index in New Zealand rose to 54.7 in July 2019 from an upwardly revised 53.0 in the previous month, above the long term average of 54.4. It was the strongest gain in services activity since January, driven by new orders/business (58.2 from 55.3 in June) and activity/sales (57.2 from 55.0). Also, employment (51.7 from 51.0) and stocks/inventories (54.4 from 53.6) improved slightly. Meanwhile, supplier deliveries fell further into contraction (48.8 vs 49.1).

2019-07-14
New Zealand Services Activity Expands at Slower Pace
The Business NZ Performance of Services Index in New Zealand dropped to 52.7 in June 2019 from a revised 53.5 in the previous month, remaining below the long term average of 54.4. New orders/business growth slowed to its lowest level since September 2012 (54.8 vs 55.8 in May) and activity/sales also rose at a softer rate (54.7 vs 54.9). In addition, the pace of job creation remained subdued (50.9 vs 50.6), while supplier deliveries again fell back into contraction (49.4 vs 51.4).


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.

New Zealand Business Last Previous Highest Lowest Unit
Business Confidence -13.20 -26.40 80.90 -76.40 percent [+]
Manufacturing PMI 49.30 51.40 62.80 36.10 points [+]
Industrial Production 0.20 -0.40 17.60 -10.50 percent [+]
Capacity Utilization 92.00 92.40 93.70 86.33 percent [+]
Changes in Inventories 747.00 -375.00 747.00 -1002.00 NZD Million [+]
Car Registrations 5209.00 5334.00 6933.00 810.00 [+]
Internet Speed 14708.73 12865.57 14708.73 1998.81 KBps [+]
IP Addresses 1778178.00 1690601.00 2110050.00 831298.00 IP [+]
Services Pmi 51.90 52.90 60.80 44.90 points [+]
Steel Production 59.30 51.42 89.00 30.94 Thousand Tonnes [+]
Competitiveness Index 76.75 77.51 78.09 4.91 Points [+]
Competitiveness Rank 19.00 18.00 25.00 16.00 [+]
Composite Pmi 52.50 54.30 59.50 40.00 points [+]
Ease of Doing Business 1.00 1.00 3.00 1.00 [+]
Corruption Index 87.00 89.00 96.00 87.00 Points [+]
Corruption Rank 2.00 1.00 4.00 1.00 [+]