Positive Stance

Positive Stance

16 MAY 2016

New Zealand’s services sector experienced increased levels of expansion in April according to the BNZ - BusinessNZ Performance of Services Index (PSI).

The PSI for April was 57.7. This was 2.6 points higher than March and the highest level of expansion since December 2015 (A PSI reading above 50.0 indicates that the service sector is generally expanding; below 50.0 that it is declining).

BusinessNZ chief executive Kirk Hope said that April's result saw the key sub-indexes of activity/sales and new orders/business return to post-60 point values, which places the sector in good health.

“The other noteworthy factor was that for the second month running, over 73% of comments received were still along a positive line, with respondents outlining a broad number of reasons for influences on business activity”.

Regarding the latest PSI result, BNZ Senior Economist Craig Ebert said that "April's swift PSI and very solid PMI, overall, combine to suggest the economy is growing at a better than average pace as it steps into the June quarter".

View PSI Time Series Data

© Scoop Media