The BusinessNZ Performance of Services Index in New Zealand was little-changed at 54.6 in August 2019, compared to a revised 54.8 in the previous month. Of the main sub-indexes, production decreased 1.2 points to 56.1, while new orders 1.6 points to 56.8. Services Pmi in New Zealand averaged 54.44 from 2007 until 2019, reaching an all time high of 60.90 in April of 2007 and a record low of 44.70 in November of 2008.
Services Pmi in New Zealand is expected to be 54.50 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services Pmi in New Zealand to stand at 55.00 in 12 months time. In the long-term, the New Zealand Services Pmi is projected to trend around 57.00 in 2020, according to our econometric models.