Financial News: New Zealand Services Index Falls To 46.0 In

New Zealand Services Index Falls To 46.0 In March - BusinessNZ

04/12/2026 - 18:37:00 (RTTNews)

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

That's down from the downwardly revised 47.6 in February (originally 48.0) and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, all five components of the survey were in contraction, including activity/sales (44.6), employment (46.4), new orders (45.7), stocks (46.2) and supplier deliveries (47.3.).

"So poor was the PSI reading that our combined PMI/PSI indicator is suggesting the economy could soon be contracting. While we are not forecasting a recession, these data support our recent decision to significantly downgrade our growth expectations for 2026," said BNZ Head of Research Stephen Toplis.

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