Business NZ Performance of Services Index
A bigly jump for the PSI to 58.8
- The April result revised higher, from 52.8 to 53.2
BusinessNZ chief executive Kirk Hope:
- "Four of the five sub-indices increased in expansion levels during May, with the key indicators of activity/sales (63.1) and new orders/business (63.2) both back over the 60-point mark.
- With the proportion of positive comments (68.2%) from respondents also at a very healthy level, we would expect continued expansion ahead."
BNZ Senior Economist Craig Ebert:
- "we were relieved to see the PSI return with such a vengeance in May. We'll take a (seasonally adjusted) result of 58.8 any day of the week".
The indicator does not tend to have too much impact on the currency.