On a High – PSI

14 Dec 2015

59.8

November

+3.3

Monthly Change

expanding

faster rate

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Phil O'Reilly

Executive Assistant, SBC & BEC

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Activity in New Zealand's services sector rose to its highest level since November 2007, according to the BNZ - BusinessNZ Performance of Services Index (PSI).

The PSI for November was 59.8.  This was 3.3 points higher than October, and also up from September's strong result (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 with November's result being close to the 60 point mark, it adds to what has been a very healthy level of expansion in the sector over the last six months.

"Above all, the key indicators of activity/sales (62.3) and new orders/business (64.2) have consistently remained in healthy territory, which has flowed through into the overall result".

"The proportion of positive comments in November (71.0%) experienced a sizeable lift from both October (61.8%) and September (65.8%).  For those who stipulated positive influences, some seasonal patterns were obviously at play, but general comments centred on a steady stream of activity and opportunities for growth".

Regarding the November result BNZ Senior Economist Craig Ebert said "If the RBNZ needed any reassurance that the economy has a great lot going for it, then November's Performance of Services Index (PSI) has given it in spades."

View the PSI Time Series Data


Main Indicies

Regional Results

Services Landscape
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Craig Ebert

Senior Economist, BNZ

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View the BNZ Services Landscape

PSI Time Series Table

The results are seasonally adjusted.

National Indicies Nov
2014
Jul
2015
Aug
2015
Sep
2015
Oct
2015
Nov
2015
BNZ - BusinessNZ PSI 54.456.658.359.256.559.8
Activity/Sales 55.960.461.562.857.462.3
Employment53.053.753.853.553.255.1
New Orders/Business55.860.564.063.256.864.2
Stocks/Inventories53.051.653.057.056.356.9
Supplier Deliveries52.554.455.555.356.157.7

View the PSI Time Series Data

BNZ - BusinessNZ PSI Time Series

January 2012 – November 2015

PSI Time Series Graph

International Results

J.P. Morgan Global Manufacturing PSITM
3 Dec 2015

54.1

International PSI

BNZ - BusinessNZ PCI

58.7

GDP-Weighted Index

56.8

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 both experience a higher level of expansion for November.

The GDP-Weighted Index (58.7) increased 2.8 points, while the Free-Weighted Index (56.8) rose 2.5 points. The fact that both the PMI and PSI improved over November meant a corresponding lift in both measures of the PCI.

PCI Time Series Table

The results are seasonally adjusted.

National Indicies Nov
2014
Jul
2015
Aug
2015
Sep
2015
Oct
2015
Nov
2015
GDP-Weighted Index 54.056.157.958.555.958.7
Free-Weighted Index54.055.857.157.454.356.8

View the PCI Time Series Data

BNZ - BusinessNZ PCI Time Series

January 2013 – 2015

PCI Time Series Graph