Business New Zealand/BNZ New Zealand Performance of Services Index (Services PMI) for September,

  • prior was 57.7 (revised from 57.9)

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The index average so far for 2014 is 56.7, so this month’s result is a gain from last month and well above the year’s average

  • All 5 sub-indices above 50 (for the 4th month)
  • The new orders/business and activity/sales sub indices the strongest (both are above 60)
  • Employment (55.0) produced a slightly lower level of expansion for September, although still near historic highs
  • Supplier deliveries (53.2) and stocks/inventories (50.7) fell from August
  • BNZ comments that the services PMI result is consistent with above-trend GDP growth
New Zealand services PMI 20 October 2014

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The NZD/USD is a few tics better bid after the result.