NZ: Healthy expansion of services sector in June - BNZ

Sandeep Kanihama FXStreet Contributor

Kirk Hope, Chief Executive at BNZ, notes that New Zealand’s services sector stayed at a similar level of healthy expansion for June, according to the BNZ - BusinessNZ Performance of Services Index (PSI).

Key Quotes

“The PSI for June was 58.6. This was only 0.2 points lower than May, and a continuation of very solid results for most of 2017 (A PSI reading above 50.0 indicates that the service sector is generally expanding; below 50.0 that it is declining).”

“BusinessNZ chief executive Kirk Hope said that overall, the PSI has remained a consistent performer in terms of expansion levels.”

"Both activity/sales (59.4) and new orders (64.1) have ensured overall activity levels close to the 60-point mark, while business activity comments have typically been two to one in favour of positive influences."

“BNZ Senior Economist Craig Ebert said “the big rebound that the PSI traced in May pretty much stuck fast in June, with the latest robustness spread right across the main sub-indices”.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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