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.