The Performance of Services Index maintained a solid growth pulse in July. It all suggests a decent start to the third quarter of the year for a big chunk of the economy.
Economy & Tax
New Zealand’s manufacturing sector had a seasonally adjusted PMI for July at 53.5. Although this was 1.6 points lower than June, it was still the second highest result for the last four months.
New Zealand’s services sector held its own in June as activity remained at a healthy level of expansion, with a seasonally adjusted PSI for June at 58.2
BusinessNZ says Labour’s proposal for provisional tax is a constructive step.
New Zealand’s manufacturing sector experienced an increase in expansion during June, with a seasonally adjusted PMI for June at 55.2
New Zealand’s economic fundamentals are pointing in the right direction but growth is slowing, according to the BusinessNZ Planning Forecast for the June 2015 quarter
New momentum towards the Trans Pacific Partnership is good news for New Zealand, says BusinessNZ.
The Productivity Commission’s report Using land for housing provides workable recommendations, says BusinessNZ.
New Zealand’s services sector showed further expansion in May as key indices continued to scale the heights, with a seasonally adjusted PSI for May at 58.0.
New Zealand’s manufacturing sector experienced another minor dip in its level of expansion during May, with a seasonally adjusted PMI for May at 51.5.
The OECD’s latest report on New Zealand shows the danger to the rest of the economy from constricted land supply in Auckland, says BusinessNZ.
BusinessNZ Chief Executive Phil O’Reilly says that the government’s accounts continue to improve and the key economic indicators by which country comparisons can be made continue to move in the right direction, but the jury is still out as to whether a slowly slowly approach is ideal.