New Zealand's services sector jumped back into expansion with its highest PMI reading since May of 2023.
The long-run average for this indicator is 54.3.
BNZ comment:
- “the combined PMI and PSI activity indicator (PCI) suggests that annual GDP growth will soon turn positive. That is great news for an economy that has been under pressure. But it still has to go a lot further before we return to growth rates that would prevent the spare capacity in the economy growing”.
Earlier:
