Economy & Tax

Service sector activity has improved slightly from its worst result in June, with a seasonally adjusted PSI for July at 48.9.

Activity in the service sector has reached its lowest level since the BNZ – BusinessNZ Performance of Services Index (PSI) began. The PSI for June stood at 45.6.

Activity in the service sector continues to be in a weak state, although a slight improvement on the previous month, with a seasonally adjusted PSI for May at 49.1.

Activity in the service sector has stalled for the first time in a year, with a seasonally adjusted PSI for April at 48.9.

Activity in the service sector fell back to its lowest level recorded since the survey began, with a seasonally adjusted PSI for March at 50.8.

The level of expansion picked up for the second month of 2008 after two consecutive months of easing, with a seasonally adjusted PSI for February at 55.6.

The level of expansion continued to ease for the first month of 2008, with a seasonally adjusted PSI for January at 51.9.

The level of expansion eased for the last month of 2007, with a seasonally adjusted PSI for December at 53.9.

Expansion in the service sector is at its highest level in the lead-up to Christmas, with a seasonally adjusted PSI for November at 62.6.

Expansion levels in the service sector eased slightly during October, with a seasonally adjusted PSI for October at 58.4.

The level of expansion in the service sector for September remained near its peak, with a seasonally adjusted PSI for September at 59.0.

The level of expansion in the service sector last month was the highest recorded since the BusinessNZ Performance of Services Index (PSI) survey began five months ago in April. The August PSI stood at 59.4