The service sector showed its first sign of expansion (albeit at a very modest level) for the first time since March 2008, with a seasonally adjusted PSI for July at 50.1.
Economy & Tax
A positive result for both production and new orders helped push manufacturing activity further out of the doldrums in July, with a seasonally adjusted PMI for July at 49.7.
BusinessNZ has launched a set of proposals for tackling New Zealand’s big challenge – productivity.
The service sector continues to show contraction, but new business levels may provide better results in the months ahead, with a seasonally adjusted PSI for June at 45.0
Manufacturing activity continued to climb out of the depths of contraction with the highest overall activity level in nine months, with a seasonally adjusted PMI for June at 46.2.
BusinessNZ says the Government’s medium term plan for economic growth is relevant and timely.
ExportNZ welcomes the recent announcement that the Government is extending its short-term trade credit insurance guarantee for exporters by $100 million.
The service sector remains in the shadows, but activity doesn’t appear to be getting any darker, with a seasonally adjusted PSI for May at 46.2.
Although manufacturing activity experienced a slightly larger decrease in activity in May, the sector generally remains in a tight band of performance since the start of the year, with a seasonally adjusted PMI for May at 42.7.
BusinessNZ’s summary of the 2009 Budget.
The 2009 Budget is noteworthy for reining in growth in Government spending, according to BusinessNZ.
The service sector took a turn for the worse in April, with a seasonally adjusted PSI for April at 43.7