Financial News: New Zealand Performance Of Services Index Improves To

New Zealand Performance Of Services Index Improves To 46.0 - BusinessNZ

11/17/2024 - 16:52:00 (RTTNews)

(RTTNews) - The services sector in New Zealand continued to contract in October, albeit at a slower pace, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 46.0.

That was up from 45.7 in September, although it remains well beneath the boom-or-bust line of 50 that separates expansion from contraction.

Among the individual components, sales (44.3), employment (46.4), new orders (48.1), inventories (47.2) and supplier deliveries (46.9) were all solidly in contraction territory.

"Although it is contracting at a much slower pace than it was in June when the PSI was 41.1, the PSI has been hovering between 45 and 46 over the last four months. The activity outlook for the sector has improved in recent business surveys, but the here and now remains extremely challenging," said BNZ Senior Economist Doug Steel.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Japan Core Machine Orders Slip 0.7% In September (06 min(s), 18 sec(s) ago)
(RTTNews) - The total value of core machine orders in Japan was down a seasonally adjusted 0.7% on ...Full Story»

Japan Core Machinery Order Data Due On Monday (01 hr(s), 46 min(s), 18 sec(s) ago)
(RTTNews) - Japan will on Monday release September figures for core machine orders, highlighting a ...Full Story»

New Zealand Performance Of Services Index Improves To 46.0 - BusinessNZ (02 hr(s), 28 min(s), 18 sec(s) ago)
(RTTNews) - The services sector in New Zealand continued to contract in October, albeit at a slowe ...Full Story»

U.S. Business Inventories Inch Up Slightly Less Than Expected In September (08 hr(s), 12 min(s), 18 sec(s) ago)
(RTTNews) - With a jump by retail inventories partly offset by dips by manufacturing and wholesale ...Full Story»

U.S. Industrial Production Falls 0.3% In October As Boeing Strike, Hurricanes Continue To Weigh (08 hr(s), 22 min(s), 18 sec(s) ago)
(RTTNews) - With the effects of recent hurricanes and the since-resolved strike at Boeing (BA) con ...Full Story»

New York Manufacturing Index Soars To Nearly Three-Year High In November (08 hr(s), 40 min(s), 18 sec(s) ago)
(RTTNews) - A report released by the Federal Reserve Bank of New York on Friday showed regional ma ...Full Story»

U.S. Import Prices Unexpectedly Rise 0.3% In October (09 hr(s), 01 min(s), 18 sec(s) ago)
(RTTNews) - The Labor Department released a report on Friday showing an unexpected increase by imp ...Full Story»

U.S. Retail Sales Climb 0.4% In October, Slightly More Than Expected (09 hr(s), 07 min(s), 18 sec(s) ago)
(RTTNews) - Partly reflecting a jump in sales by motor vehicle and parts dealers, the Commerce Dep ...Full Story»