BNZ – BusinessNZ
Performance of
Services Index

Smooth operator – PSI

19 Sep, 2016
57.9
August
+3.4

Monthly Change

expanding
faster rate

New Zealand’s services sector experienced an increase in expansion across all main indicators, according to the BNZ – BusinessNZ Performance of Services Index (PSI).

The PSI for August was 57.9. This was 3.4 points up from July, and the highest value 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 it was pleasing to see all sub-indexes improve from July, with activity/sales (61.6) and new orders/business (60.8) both rising back above the 60 point range.

“Looking at comments, the proportion of positive comments for August (65.2%) was largely unchanged from July (65.6%), with a number mentioning new customers and markets creating enhanced opportunities for growth.”

Regarding the latest PSI results, BNZ Senior Economist Doug Steel said “The widespread positivity in August’s PSI combined with the overall good-looking Performance of Manufacturing Index from last week indicates above trend economic growth has continued into the second half of the year”.

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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

Super Service

Super service returns. After July’s dip to an averagelooking 54.5, the Performance of Services Index (PSI) bounced back strongly in August, to 57.9.

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Growth Supportive

The widespread positivity in August’s PSI combined with the overall good-looking Performance of Manufacturing Index from last week indicates above trend economic growth has continued.

Read more  

Employment Trends Strong

PSI employment remained very firm, at 54.3 in August from 53.8 in July. It is a useful offset to the employment dip we saw in the PMI last week.

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 Aug
2015 		Apr
2015 		May
2016 		Jun
2016 		Jul
2016 		Aug
2016
BNZ – BusinessNZ PSI 57.5 57.8 56.9 56.6 54.5 57.9
Activity/Sales 61.0 63.1 60.1 58.0 57.5 61.6
Employment 53.7 53.8 54.4 54.9 53.8 54.3
New Orders/Business 63.4 61.3 59.9 58.3 57.7 60.8
Stocks/Inventories 51.5 52.6 52.5 53.5 51.5 55.9
Supplier Deliveries 53.0 54.8 52.9 55.7 47.5 56.4
View the Time Series Data

BNZ – BusinessNZ PSI Time Series

August 2011 – August 2015

International Results

J.P. Morgan Global Manufacturing PSITM

05 Sep 2016
51.5

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

57.8

GDP-Weighted Index

56.8

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 an increase in expansion from July to August.

The August GDP-Weighted Index (57.8) increased 3.1 points from July, while the Free-Weighted Index (56.8) rose 1.3 points. The pick up in the GDP-Weighted result was mainly due to a stronger PSI value for August after a dip in expansion during July.

PCI Time Series Table

The results are seasonally adjusted.

National Indicies Aug
2015 		Apr
2016 		May
2016 		Jun
2016 		Jul
2016 		Aug
2016
GDP-Weighted Index 57.1 57.7 56.9 56.8 54.7 57.8
Free-Weighted Index 56.8 57.2 57.4 57.1 55.5 56.8
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BNZ – BusinessNZ PCI Time Series

August 2011 – August 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