BNZ predicts return to growth after positive PSI data

Stephen Toplis. (Image: File)

Mon, 18 Mar 2024

New Zealand’s services sector continued its path of expansion in February, according to the BNZ-Business NZ Performance of Services Index (PSI).The PSI for February was 53 – a reading above 50 indicates that the service sector is generally expanding, and below 50 indicates a decline. This compared to 52.2 in January and is just below the long-term average of 53.4 for the survey.Among the sub-indexes, activity/sales was 53.1, and new orders/business was 56, both still in positive territory. New orders/busine...

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