BNZ – BusinessNZ
Performance of
Services Index

Marching on – PSI

20 Apr, 2015
57.6
March
+1.6

Monthly Change

expanding
faster rate

New Zealand’s services sector continued to show healthy levels of expansion in March, according to the BNZ – BusinessNZ Performance of Services Index (PSI).

The PSI for March was 57.6.  This was 1.6 points higher than February, and close to the level of activity experienced in January (A PSI reading above 50.0 indicates that the service sector is generally expanding; below 50.0 that it is declining).

BusinessNZ chief executive Phil O’Reilly said that overall activity in the services sector over the last two years has been relatively consistent, with a number of monthly results in between the 56-58 point mark.

“With new orders/business and activity/sales typically displaying values around the 60 point mark, along with around two-thirds of respondents providing positive comments, the sector is in good heart.”

BNZ senior economist Doug Steel said, “A strong service sector bodes well for economic growth and employment. Labour demand is one thing, finding the people might be another with firms reporting difficulty finding staff.”

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BNZ - BusinessNZ PSI

Time Series Data

View seasonally adjusted and unadjusted time series data for the BNZ - BusinessNZ PSI

Services Landscape

Service Sector Confident

The service sector is expanding at a brisk pace. This has been the case for a good two years now with even a hint of acceleration appearing of late.
Read more  

As Activity Accelerates

Confidence is one thing but seeing a lift in activity is another. The latter was a striking feature of both the PSI and the QSBO.
Read more  

Spending Strongest In Service Sector

Spending indicators confirm a buoyant service sector and economy. March’s value of electronic card transactions was 5.2% higher than a year earlier.
Read more  

Help Wanted

Buoyant activity is driving demand for labour in the service sector. The PSI employment index rose to 54.8 in March, taking the 3 month average to 54.2.
Read more .

View full BNZ Services Snapshot
Doug Steel

Doug Steel

Senior Economist, BNZ

Sponsor Statement

BNZ is delighted to be associated with the Performance of Services Index (PSI) and BusinessNZ.

This association brings together the significant experience of leading business advocacy body BusinessNZ, and business finance specialist BNZ.

We look forward to continuing our association with BusinessNZ and associated regional organisations, and to playing our part in the ongoing development of the New Zealand service sector.

View website

PSI Time Series Table

The results are seasonally adjusted.

National Indicies Mar
2014 		Nov
2014 		Dec
2014 		Jan
2015 		Feb
2015 		Mar
2015
BNZ – BusinessNZ PSI 57.7 54.7 56.7 57.9 56.0 57.6
Activity/Sales 60.4 56.0 57.7 60.4 62.0 60.1
Employment 54.0 53.3 52.0 54.9 52.8 54.8
New Orders/Business 61.9 55.9 60.7 61.1 58.3 60.4
Stocks/Inventories 53.8 53.4 54.7 53.1 53.7 57.7
Supplier Deliveries 55.2 52.7 56.1 55.0 51.6 53.8
View the Time Series Data

BNZ – BusinessNZ PSI Time Series

March 2011 – March 2015

International Results

J.P. Morgan Global Manufacturing PSITM

07 Apr 2015
55.1

About the PSI

The BNZ – BusinessNZ Performance of Services Index is a monthly survey of the service sector providing an early indicator of activity levels.

A PSI reading above 50 points indicates service activity is expanding; below 50 indicates it is contracting.

The main PSI and sub-index results are seasonally adjusted.

Technical Contact

Stephen Summers
Economist, BusinessNZ

[email protected]

PSI Releases

Treading water

New Zealand’s services sector continued to display contraction for a sixth consecutive month, according to the BNZ – BusinessNZ Performance of Services Index (PSI). The PSI for July was 48.9 (A PSI reading above 50.0 indicates that the service sector is generally...

Ongoing contraction

New Zealand’s services sector displayed contraction for a fifth consecutive month, according to the BNZ – BusinessNZ Performance of Services Index (PSI). The PSI for June was 47.3 (A PSI reading above 50.0 indicates that the service sector is generally expanding;...

Service with a slump

New Zealand’s services sector continued to show further decline in activity during May, according to the BNZ – BusinessNZ Performance of Services Index (PSI). The PSI for May was 44.0 (A PSI reading above 50.0 indicates that the service sector is generally expanding;...

Declining fortunes

New Zealand’s services sector showed further decline in activity during April, according to the BNZ – BusinessNZ Performance of Services Index (PSI). The PSI for April was 48.5 (A PSI reading above 50.0 indicates that the service sector is generally expanding; below...

Continued softness

New Zealand’s services sector continued to show slight contraction during March, according to the BNZ – BusinessNZ Performance of Services Index (PSI). The PSI for March was 49.1 (A PSI reading above 50.0 indicates that the service sector is generally expanding; below...

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BNZ – BusinessNZ
Performance of
Composite Index

57.1

GDP-Weighted Index

56.4

Free-Weighted Index

The seasonally adjusted BNZ – BusinessNZ Performance of Composite Index or PCI (which combines the PMI and PSI) saw the two options for measuring the PCI experience contrasting movements during March.

The GDP-Weighted Index (57.1) increased 1.2 points in March, while the Free-Weighted Index (56.4) decreased 0.4 points over the same period. The increase in the GDP-weighted index was primarily due to a pick up in activity from the services sector.

PCI Time Series Table

The results are seasonally adjusted.

National Indicies Mar
2014 		Nov
2014 		Dec
2014 		Jan
2015 		Feb
2015 		Mar
2015
GDP-Weighted Index 57.7 54.2 56.8 56.9 55.9 57.1
Free-Weighted Index 57.8 54.4 57.2 54.9 56.8 56.4
View the Time Series Data

BNZ – BusinessNZ PCI Time Series

March 2011 – March 2015

About the PCI

The BNZ – BusinessNZ Performance of Composite Index (PCI) takes into account results from both the Performance of Manufacturing Index (PMI) and the Performance of Services Index (PSI). Combined results are shown in two ways:

GDP-Weighted Index:
Apportions the weight of the manufacturing and services index within the economy to produce an overall result.

Free-Weighted Index:
Combines data from both indexes to produce an overall result.

Both time series for the PCI are then seasonally adjusted.

BNZ - BusinessNZ PCI

Time Series Data

View seasonally adjusted and unadjusted time series data for the BNZ - BusinessNZ PCI

Our Contributors

The BNZ – BusinessNZ PSI contains data obtained through BusinessNZ’s regional organisations