New Zealand services PMI for January 47.9 (prior 49.2)

Author: Eamonn Sheridan | Category: News

BusinessNZ Performance of Services Index (PSI) dropped in January to 47.9

  • prior revised to 49.1
BusinessNZ comment:
  • the ongoing trend of contraction was typified by the influences of the Xmas period, ongoing COVID-19 related issues (including freight challenges) and a slower return to business as usual post holidays

BNZ note the negative result but see positives in public spending and construction:
  • combining last week's very strong PMI with today's soft PSI points to some slowing in growth
  • But we also need to factor in strong public sector jobs growth and a booming construction sector

BusinessNZ Performance of Services Index (PSI) dropped in January to 47.9
The NZD/USD is off a few points to open the week on the back of the fresh lockdown in NZ's largest city of Auckland:
 

Invest in yourself. See our forex education hub.
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose