NZ service sector underperforming globally

BusinessNZ chief executive Katherine Rich. (Image: BusinessNZ)

Tue, 21 Jan 2025

New Zealand's Performance of Services Index is the only one in contraction among its key trading partners.The BNZ – BusinessNZ's performance index (PSI) fell to 47.9 in December from 49.1 in November. “Our neighbour Australia is the closest comparison, but their equivalent PSI is sitting more comfortably at 50.8,” BNZ senior economist Doug Steel said.The US economy continues to outperform, and “contrasting economic fortunes between the US and NZ economy were a key driver of another hefty fall in the NZ doll...

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