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Challenging times – PSI - BusinessNZ
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Outside the zone – PSI - BusinessNZ
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New Zealand s services sector was in expansion mode for the fourth consecutive month, according to the BNZ - BusinessNZ Performance of Services Index (PSI).
The PSI for June was 58.6 (A PSI reading above 50.0 indicates that the service sector is generally expanding; below 50.0 that it is declining). This was 2.3 points up from May, but still below its highest ever result of 61.1 in April.
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Like its sister survey the month before, activity in New Zealand’s services sector reached its highest level since the survey began in 2007, according to the BNZ - BusinessNZ Performance of Services Index (PSI).
The PSI for April was 61.2, which was up 8.3 points from March (A PSI reading above 50.0 indicates that the service sector is generally expanding; below 50.0 that it is declining). It was the first time since June 2007 that the sector recorded a post-60 result.
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