The Business NZ Performance of Services Index in New Zealand jumped to 55.2 in May of 2022 from an upwardly revised 52.2 in the previous month. It is the highest reading since June last year and fourth consecutive growth in the services sector, amid a steeper expansion both in new orders (62 vs 55.2 in April) and sales (59.6 vs 53.3). Also, supplier deliveries rose at a faster pace (45 vs 40.7). Meanwhile, employment fell (48.5 vs 51) and inventories edged down (54.6 vs 55). source: Business New Zealand

Services PMI in New Zealand averaged 53.55 points from 2007 until 2022, reaching an all time high of 61 points in April of 2021 and a record low of 26.40 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 July of 2022.

Services PMI in New Zealand is expected to be 53.00 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 2023, according to our econometric models.

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New Zealand Services PMI



Related Last Previous Unit Reference
Manufacturing PMI 52.90 51.20 points May 2022
Services PMI 55.20 52.20 points May 2022
Composite PMI 50.60 52.20 points Apr 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
55.20 52.20 61.00 26.40 2007 - 2022 points Monthly
SA

News Stream
New Zealand Services PMI at 11-Month High
The Business NZ Performance of Services Index in New Zealand jumped to 55.2 in May of 2022 from an upwardly revised 52.2 in the previous month. It is the highest reading since June last year and fourth consecutive growth in the services sector, amid a steeper expansion both in new orders (62 vs 55.2 in April) and sales (59.6 vs 53.3). Also, supplier deliveries rose at a faster pace (45 vs 40.7). Meanwhile, employment fell (48.5 vs 51) and inventories edged down (54.6 vs 55).
2022-06-19
New Zealand Services Growth Slows in April
The Business NZ Performance of Services Index in New Zealand fell to 51.4 in April of 2022 from a downwardly revised 51.5 in the prior month. Growth slowed for sales (52.7 vs 53.5 in March); and new orders (53.6 vs 59). Meanwhile, improvements were observed in employment levels (51.2 vs 49.2). Also, inventories continue to rise (54.8 vs 52.8) while supplier deliverables shrank (40.1 vs 40.5). BusinessNZ chief executive Kirk Hope said that "while the April result remained in positive territory, the fickle nature of some of the key sub-index values means a consistent trend towards expansion at traditional levels still seems some way off".
2022-05-15
New Zealand Services Sector Returns to Expansion
The Business NZ Performance of Services Index in New Zealand rose to 51.6 in March of 2022 from an upwardly revised 48.9 in the prior month. The latest reading pointed to the first expansion in factory activity since July last year, with improvements seen in production (53.8 vs 50.9 in February), employment (48.5 vs 45.0) and new orders (60.1 vs 55.3). Meanwhile, the sub-index of inventories continued to rise (52.5 vs 50.3) while the delivery time level increased (40.1 vs 34.4).
2022-04-18