New Zealand Services PSI Hits 51.2, Highest Since 2023 as Orders Rise to 55.2
Updated
Updated · Action Forex · Sep 14
New Zealand Services PSI Hits 51.2, Highest Since 2023 as Orders Rise to 55.2
3 articles · Updated · Action Forex · Sep 14
Summary
New Zealand’s BNZ–BusinessNZ services PSI rose to 51.2 in August from 50.6, marking a third straight month of expansion and its strongest reading since September 2023.
New orders drove the gain, climbing to 55.2 from 52.8, while the three-month average improved to 50.9 — its highest since July 2023.
The recovery remained narrow: activity/sales slipped back into contraction at 49.4, employment improved to 49.4 but stayed below 50, and only two of five sub-indexes were in expansion.
Negative sentiment still dominated 60.8% of comments, with businesses citing living costs, interest rates and election uncertainty, underscoring that stronger orders have not yet translated into broader activity and hiring.