The BNZ – BusinessNZ Performance of Services Index (PSI) into expansion after three months of contraction.

BusinessNZ chief executive Kirk Hope:

“The proportion of negative comments stood at 61.8% for September, down slightly from 63.9% in August. Overall, negative comments continued to be strongly dominated by uncertainty regarding the upcoming General Election, as well as the cost of living”.

BNZ Senior Economist Craig Ebert:

“the seasonally adjusted reading of 50.7 was clearly better than August’s 19-month low of 47.7. However, it was also clearly south of its long-term average of 53.5. Stabilised but hardly buoyant”.

September services PMI New Zealand

Earlier from New Zealand today: