New Zealand services PMI (October) 46.0 (prior 45.7)

New Zealand’s services sector PMI from the BNZ – BusinessNZ Performance of Services Index (PSI) for October 2024:

46.0

• prior 45.7
• still in contraction and well under the average of 53.1 over the history of the survey

BNZ’s Senior Economist Doug Steel comment:

• “although it is contracting at a much slower pace than it was in June (when the PSI was 41.1), the PSI has been hovering between 45 and 46 over the last four months. The activity outlook for the sector has improved in recent business surveys, but the here and now remains extremely challenging”.

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