Services sector stuck in reverse for fifth straight month

Service sector conditions “are getting worse, not better”. (Image: DepositPhotos)

Mon, 14 Jul 2025

New Zealand’s services sector contracted for a fifth consecutive month in June as weak consumer confidence, high living costs and economic uncertainty continue to bite.The BNZ – BusinessNZ Performance of Services Index (PSI) for June was 47.3. Although this was 3.2 points up from May, it was still well below the average of 52.9 over the history of the survey.“While the headline PSI measure did lift from 44.1 to 47.3, every month it remains below 50 suggests service sector conditions are getting worse, not b...

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