Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Jubilant July - Service sector showed a jump in activity

Media release
19 August 2013

Jubilant July

New Zealand’s service sector showed a jump in activity for July, according to the BNZ - BusinessNZ Performance of Services Index (PSI).

The PSI for July was 58.1.  This was up 3 points from June, and the highest level of activity since October 2012 (A PSI reading above 50.0 indicates that the service sector is generally expanding; below 50.0 that it is declining).  Compared to previous July results, the 2013 value was the highest since the survey began in 2007.  So far in 2013, the PSI has averaged 55.7.

BusinessNZ chief executive Phil O’Reilly said that after 5 months of consistent and healthy growth in activity, the July result provides additional evidence that 2013 is continually shaping up as a positive one for the New Zealand economy. 

“Both new orders, business and activity, and sales remain strong, which is helping drive the strong overall result.  In addition, positive comments from respondents picked up a gear at 62%, compared with 58% in June.”      

Craig Ebert, senior economist at BNZ, said the latest PSI adds to numerous signs that the economic expansion is now accelerating. “Indeed, the chances of getting 5% GDP growth over the coming 12 months cannot be taken lightly.”

All five main sub-indices were again in expansion during July for the third consecutive month.  New orders/business (63.1) again led the way, increasing 3.2 points from June to its highest level since November 2007.  Activity/sales (61.8) also produced a post-60 result, rising 4.2 points from June.  Supplier deliveries (57.3) recorded its highest value since May 2007, while stocks/inventories (54.9) rose 1 point from the previous month.  Employment (52.2) recovered 2.1 points after a fall in expansion during June.

Activity was again positive throughout the country in July.  The overall strong national result was led by the Northern region (62.6), which recorded its highest level of activity since November 2007.  The Central region (50.5) fell back slightly compared with June, but remained in slight expansion.  In the South Island, the Canterbury/Westland region (48.8) fell back into slight contraction, while the Otago/Southland region (52.3) managed to show some expansion, despite a dip from June.

The seasonally adjusted BNZ - BusinessNZ Performance of Composite Index or PCI (which combines the PMI and PSI) for July saw both options for measuring the PCI improve significantly.  The GDP-Weighted Index (58.3) increased 3.1 points from June, while the Free-Weighted Index (59.1) rose 3.7 points over the same period.  The strong lift in both was due to both the manufacturing and service sectors showing improved activity.

Link to the July PSI & PCI
Link to PSI time series data
Link to PCI time series data

Full results are available on under ‘PSI Reports’. 


© Scoop Media

Business Headlines | Sci-Tech Headlines


Stats NZ: Largest Drop In Terms Of Trade In A Decade As Dairy Export Prices Sour

Lower export prices for dairy, meat, and logs in the September 2020 quarter led to the biggest drop in terms of trade since June 2009, Stats NZ said today. Export prices fell in the September 2020 quarter, down 8.3 percent from its highest ever ... More>>


Stats NZ: Election Boosts October Job Numbers

Job numbers were boosted by general election staff in October 2020, along with rises in the manufacturing, retail, and hospitality industries, Stats NZ said today. Filled jobs rose by 27,667 to 2.2 million in October 2020 compared with September, after ... More>>

Government: New Year Border Exception For Seasonal Workers In The Horticulture And Wine Industries

2000 additional RSE workers to enter New Zealand early next year employers must pay these workers at least $22.10 an hour employers will cover costs of managed isolation for the RSE workers RSE workers will be paid the equivalent of 30 hours work a week ... More>>


Media: Discovery, Inc. Completes Acquisition Of New Zealand’s Mediaworks TV Ltd

Auckland, New Zealand, December 1, 2020 - Discovery, Inc. (“Discovery”), the global leader in real-life entertainment, has completed its acquisition of New Zealand’s leading independent free-to-air commercial broadcaster, MediaWorks TV Ltd, now operating ... More>>

Department Of Conservation: Big Year Underway At Albatross Colony

Familiar faces are returning for the new season of Royal Cam, with a big breeding year underway for the toroa/northern royal albatross colony on Otago’s windswept Pukekura/Taiaroa Head. More than 120 albatrosses, a taonga species, have returned ... More>>

Real Estate: ASB Survey Reveals Majority Of Kiwis Expect House Prices To Keep Climbing


House price expectations are soaring as New Zealand’s housing market shifts up a gear. But stretched affordability is putting a dent in perceptions of whether it’s a good time to buy. While Kiwis reveal they do expect interest rates to fall further. ... More>>

Stats NZ: Births And Deaths: Year Ended September 2020

Births and deaths releases provide statistics on the number of births and deaths registered in New Zealand, and selected fertility and mortality rates. Key facts For the year ended September 2020: 57,753 live births and 32,670 deaths ... More>>