BNZ – BusinessNZ
Performance of
Services Index

Positive Stance

11 May, 2016
57.7
April
+2.6

Monthly Change

expanding
faster rate

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 April result, BNZ Senior Economist Craig Ebert said that “to insert.”

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Kirk Hope

Kirk Hope

CEO, BusinessNZ

BNZ - BusinessNZ PSI

Time Series Data

View seasonally adjusted and unadjusted time series data for the BNZ - BusinessNZ PSI

Services Landscape

The PSI

Having lost some of its heat in the early part of 2016 the Performance of Services Index (PSI) fought back to a very solid level in April, with 57.7.

Read more  

Credit

The financial markets were half-expecting the Reserve Bank’s May Financial Stability Report (FSR) to confirm further credit controls for the housing market.

Read more  

Property

New Zealand’s housing market pick up continues to broaden. This was obvious from the range of reports for April. The fall in REINZ sales in April was less than usual, inferring a 14% lift on our seasonally adjusted estimate.

Read more  

Retail

Relatively speaking, the Retail component of the PSI has been lagging. Of course, it is not given in seasonally adjusted form. But its 3-month average in unadjusted terms was 49.7 in April, which compares to 57.6 for the PSI as a whole.

Read more .

View full BNZ Services Snapshot
Doug Steel

Doug Steel

Senior Economist, BNZ

Sponsor Statement

BNZ is delighted to be associated with the Performance of Services Index (PSI) and BusinessNZ.

This association brings together the significant experience of leading business advocacy body BusinessNZ, and business finance specialist BNZ.

We look forward to continuing our association with BusinessNZ and associated regional organisations, and to playing our part in the ongoing development of the New Zealand service sector.

View website

PSI Time Series Table

The results are seasonally adjusted.

National Indicies Apr
2015		 Dec
2015		 Jan
2016 		Feb
2016 		Mar
2016 		Apr
2016
BNZ – BusinessNZ PSI 56.1 58.6 55.5 56.9 55.1 57.7
Activity/Sales 59.6 61.8 58.2 60.3 59.9 63.2
Employment 53.5 53.5 50.9 53.6 53.1 53.3
New Orders/Business 61.7 63.7 57.0 61.2 57.4 61.3
Stocks/Inventories 51.4 54.8 54.3 54.9 52.6 52.5
Supplier Deliveries 50.1 54.8 55.0 53.5 51.4 54.5
View the Time Series Data

BNZ – BusinessNZ PSI Time Series

April 2011 – April 2015

International Results

J.P. Morgan Global Manufacturing PSITM

06 May 2016
51.9

About the PSI

The BNZ – BusinessNZ Performance of Services Index is a monthly survey of the service sector providing an early indicator of activity levels.

A PSI reading above 50 points indicates service activity is expanding; below 50 indicates it is contracting.

The main PSI and sub-index results are seasonally adjusted.

Technical Contact

Stephen Summers
Economist, BusinessNZ

[email protected]

PSI Releases

Struggle street

New Zealand’s services sector continued to contract further in April, according to the BNZ – BusinessNZ Performance of Services Index (PSI). The PSI for April was 47.1 (A PSI reading above 50.0 indicates that the service sector is generally expanding; below 50.0 that...

Lost momentum

New Zealand’s services sector fell back into contraction during March, according to the BNZ – BusinessNZ Performance of Services Index (PSI). The PSI for March was 47.5 (A PSI reading above 50.0 indicates that the service sector is generally expanding; below 50.0 that...

Path of expansion

New Zealand’s services sector continued its path of expansion in February, according to the BNZ – BusinessNZ Performance of Services Index (PSI). The PSI for February was 53.0 (A PSI reading above 50.0 indicates that the service sector is generally expanding; below...

Green shoots?

New Zealand’s services sector climbed back into expansion for the start of 2024, according to the BNZ – BusinessNZ Performance of Services Index (PSI). The PSI for January was 52.1 (A PSI reading above 50.0 indicates that the service sector is generally expanding;...

Activity on holiday

New Zealand’s services sector fell back into contraction during December, according to the BNZ – BusinessNZ Performance of Services Index (PSI). The PSI for December was 48.8 (A PSI reading above 50.0 indicates that the service sector is generally expanding; below...

View all PSI releases

BNZ – BusinessNZ
Performance of
Composite Index

57.6

GDP-Weighted Index

57.2

Free-Weighted Index

The seasonally adjusted BNZ – BusinessNZ Performance of Composite Index or PCI (which combines the PMI and PSI) saw the two options for measuring the PCI both experience increased levels of expansion during April.
 
The April GDP-Weighted Index (57.6) increased 2.6 points from March, while the Free-Weighted Index (57.2) rose 2.1 points. The increase in the combined index options was due to both the manufacturing and services indices experiencing higher rates of expansion.

PCI Time Series Table

The results are seasonally adjusted.

National Indicies Apr
2015 		Dec
2015 		Jan
2016 		Feb
2016 		Mar
2016 		Apr
2016
GDP-Weighted Index 55.7 58.3 56.0 56.7 55.0 57.6
Free-Weighted Index 55.2 58.0 57.4 57.0 55.1 57.2
View the Time Series Data

BNZ – BusinessNZ PCI Time Series

April 2011 – April 2015

About the PCI

The BNZ – BusinessNZ Performance of Composite Index (PCI) takes into account results from both the Performance of Manufacturing Index (PMI) and the Performance of Services Index (PSI). Combined results are shown in two ways:

GDP-Weighted Index:
Apportions the weight of the manufacturing and services index within the economy to produce an overall result.

Free-Weighted Index:
Combines data from both indexes to produce an overall result.

Both time series for the PCI are then seasonally adjusted.

BNZ - BusinessNZ PCI

Time Series Data

View seasonally adjusted and unadjusted time series data for the BNZ - BusinessNZ PCI

Our Contributors

The BNZ – BusinessNZ PSI contains data obtained through BusinessNZ’s regional organisations