Moving On Up - BNZ/BusinessNZ PSI Nov 2017 & 2018 Release Schedule
Activity in New Zealand’s services sector lifted slightly during November, according to the BNZ - BusinessNZ Performance of Services Index (PSI).
The PSI for November was 56.4, which was 0.7 points higher than October (A PSI reading above 50.0 indicates that the service sector is generally expanding; below 50.0 that it is declining). It also stopped two consecutive months of lower expansion in the sector.
BusinessNZ chief executive Kirk Hope said that the sector remains in solid territory, with the slight lift in expansion levels boosted with a pick up in the key sub-indices of both activity/sales (60.5) and new orders/business (60.7).
“It was also good to see the proportion of positive comments for November (68.7%) build on the substantive lift in October (67.6%), with many outlining seasonal factors at play".
BNZ Senior Economist Doug Steel said that "positive signs were widespread across the PSI with expansionary readings seen in the unadjusted results across all industries, regions, sub components, and firm sizes".