The BusinessNZ Performance of Services Index in New Zealand rose to 46.5 in November of 2021 from an upwardly revised 44.9 in the prior month, the fourth straight contraction in the services sector. Among key sub-indices, activity/sales (45.6 vs 44.4 in October), stocks/inventories (46.7 vs 46.1), and supplier deliveries (37.8 vs 36.8) contracted at a slower pace. At the same time, new orders/business (54.4 vs 46.3) rebounded while employment (50.3 vs 50) slightly grew. BuisinessNZ said the stagnant results showed the difficult trading conditions business are in, but believe the PSI can improve in December as New Zealand moves into a less restrictive system of Covid management. source: Business New Zealand

Services PMI in New Zealand averaged 53.65 points from 2007 until 2021, reaching an all time high of 61.50 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 January of 2022.

Services PMI in New Zealand is expected to be 48.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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


Related Last Previous Unit Reference
Manufacturing PMI 53.70 50.58 points Dec/21
Services PMI 46.50 44.90 points Nov/21
Composite PMI 49.10 50.00 points Nov/21

News Stream
New Zealand Services Sector Continues to Contract
The BusinessNZ Performance of Services Index in New Zealand rose to 46.5 in November of 2021 from an upwardly revised 44.9 in the prior month, the fourth straight contraction in the services sector. Among key sub-indices, activity/sales (45.6 vs 44.4 in October), stocks/inventories (46.7 vs 46.1), and supplier deliveries (37.8 vs 36.8) contracted at a slower pace. At the same time, new orders/business (54.4 vs 46.3) rebounded while employment (50.3 vs 50) slightly grew. BuisinessNZ said the stagnant results showed the difficult trading conditions business are in, but believe the PSI can improve in December as New Zealand moves into a less restrictive system of Covid management.
2021-12-12
New Zealand Services Sector Continues to Shrink
The BusinessNZ Performance of Services Index in New Zealand fell to 44.6 in October of 2021 from a downwardly revised 46.5 in September, showing that the services sector stepped further into contraction. The key sub-indexes of Activity/Sales (43.7) and New Orders/Business (46.4) remained in contraction, while Employment (50) remained unchanged. "With Auckland taking another recent step towards opening up, this will hopefully provide greater ability for a number of service sector businesses in New Zealand's largest city to lift their activity levels and prepare more fully for the Christmas period ahead", BusinessNZ chief executive Kirk Hope said.
2021-11-14
New Zealand Services Sector Continues to Contract
The BusinessNZ Performance of Services Index in New Zealand increased to 46.9 in September of 2021 from a downwardly revised 35.4 in August. The reading still pointed to a contraction in the services sector although smaller than in the previous month as the country moved down alert levels during September, freeing up some businesses for increased activity. Both employment (52 vs 49.3) and inventories (51.5 vs 48) rebounded while activity (45.3 vs 25.5) fell. BusinessNZ chief executive Kirk Hope said that despite the improvement in the overall result for September, current restrictions still mean business as usual for most of the country is still a ways off yet. "COVID-19 and its associated lockdown/restrictions still completely dominate comments from respondents. At what point the PSI returns to expansion will largely depend on any upcoming changes to alert levels in the weeks ahead", he added.
2021-10-17

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.