NZ's services sector is in reverse, at pace

BusinessNZ chief executive Kirk Hope. (Image: BusinessNZ)

Mon, 17 Jun 2024

Activity in New Zealand’s services sector dropped to its lowest level for a non-covid lockdown May.The BNZ – BusinessNZ Performance of Services Index (PSI) for May was 43, down 3.6 points from April and the lowest level of activity for the sector for a non-covid lockdown month since the survey began in 2007.The May result was as bad as it can get for the sector, reaching contraction levels greater than during the global financial crisis of 2008/09, BusinessNZ chief executive Kirk Hope said.BNZ senior economist Doug Steel said the sp...

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