September PSI shows return to expansion

BusinessNZ CEO Kirk Hope said that the September result broke the trend of three consecutive months in contraction. (Image: BusinessNZ)

Staff reporters

Mon, 16 Oct 2023

New Zealand’s services sector experienced a return to expansion in September, according to the BNZ-BusinessNZ Performance of Services Index. The PSI for September was 50.7 – a reading of above 50 indicates that the service sector is generally expanding. That was up three points from August, although still below the long-term average of 53.5 for the survey.BusinessNZ chief executive Kirk Hope said that the September result broke the trend of three consecutive months in contraction for the sector.New orders/business, which got a...

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