PSI still expanding but clouds gathering

Mon, 17 Aug 2020

The BNZ - BusinessNZ Performance of Services Index was 54.3 in July and while it was unchanged from June and expansionary, the positive picture may not last. Even if current new lockdown restrictions don’t last much longer “they will surely knock the PSI for August,” said BNZ senior economist Craig Ebert. “And not just from business shutdown impacts but also via bruised economic confidence more generally.”BusinessNZ chief executive Kirk Hope said that the solid result for July builds on the return to expansio...

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