November PSI reading: services sector expanding

Mon, 18 Dec 2023

New Zealand’s services sector recorded expansion on November, according to the BNZ-BusinessNZ Performance of Service Index (PSI).Last month’s PSI was 51.2 – a reading above 50 indicates that the service sector is generally expanding; below 50 that it is declining.November’s reading was up 2 points from October, although still below the long-term average of 53.5 for the survey.BusinessNZ chief executive Kirk Hope said that the last few months had seen the sector bounce between contraction and expansion.That degree of cont...

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