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. source: Business New Zealand

Services PMI in New Zealand averaged 53.69 points from 2007 until 2021, reaching an all time high of 61.70 points in April of 2021 and a record low of 27 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 November of 2021.

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 54.30 51.60 points Oct/21
Services PMI 44.60 46.50 points Oct/21
Composite PMI 38.00 59.60 points Aug/21

News Stream
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 Sector Shrinks due to Lockdown
The BusinessNZ Performance of Services Index in New Zealand sank to 35.6 in August of 2021 from a downwardly revised 55.9 in July, pointing to the second lowest level of activity ever, with the April 2020 result still the lowest during the national lockdown last year. The national lockdown was the sole influencing factor causing service sector activity levels to plunge into contraction. Sharp decreases were seen in activity (25.8 vs 61 in July), employment (49.2 vs 54.8), new orders (32.8 vs 60), stocks (48 vs 51.4) and supplier deliveries (26.8 vs 46.8). Even for those outside Auckland moving down alert levels to resume business activity, there will be residual effects at least through September with both uncertainty and lower alert level restrictions playing their part.
2021-09-19

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.