Business New Zealand/BNZ New Zealand Performance of Services Index (Services PMI) for September,
- prior was 57.7 (revised from 57.9)
–
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
–
The NZD/USD is a few tics better bid after the result.
