New Zealand Services PMI for September 50.3 (prior 47.2)
NZ Performance of Services Index from BusinessNZ
A jump for activity coming out of the 2nd lock down, notable especially in Auckland.
BNZ Senior Economist, Doug Steel
- “although the September PMI pushed above its long-term average of 53.0, it should not be confused with above average activity levels. Rather, it indicates growth off the low base set earlier in the year. Growth has not yet been enough to recoup previous loses, but some progress is being made".