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Financial News: New Zealand Services PMI Picks Up Steam In

New Zealand Services PMI Picks Up Steam In June - BusinessNZ

07/17/2022 - 18:39:00 (RTTNews)

(RTTNews) - The services sector in New Zealand continued to expand in June, and at a faster pace, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 55.4.

That's up from the upwardly revised 55.3 in May (originally 55.2) and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, new orders (61.7), sales (56.5), stocks (54.1) and employment (53.1) all expanded, while supplier deliveries (47.8) were in contraction.

"The move to traffic light Orange in mid-April, along with the expedited opening of the border, is clearly providing a basis for sustained improvement in New Zealand's services sector," BNZ Senior Economist Craig Ebert said.

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