New Zealand data – March services PMI 49.1 (prior 49.0)

BNZ – BusinessNZ Performance of Services Index (PSI).

For March was 49.1, indicating a decline in service sector activity

• February was 49.0
• long run average is 53.0

BNZ’s Senior Economist Doug Steel:

• “combining together the PSI and the Performance of Manufacturing Index (PMI), the Composite Index (PCI) suggests a modest economic recovery. The extent of growth implied by our indicator has been dampened by the softer PSI readings”.

NZD little changed

This article was written by Eamonn Sheridan at www.forexlive.com.