BNZ – BusinessNZ
Performance of
Services Index

Keep calm and carry on – PSI

19 Dec, 2016
57.9
November
+1.3

Monthly Change

expanding
faster rate

New Zealand’s services sector experienced a further pick-up in expansion during November, according to the BNZ – BusinessNZ Performance of Services Index (PSI).

The PSI for November was 57.9. This was 1.3 points up from October, and the highest result since August (A PSI reading above 50.0 indicates that the service sector is generally expanding; below 50.0 that it is declining).

BusinessNZ chief executive Kirk Hope said that despite challenges for a number of businesses in recent weeks, the healthy level of overall activity for November was a welcome result.

BusinessNZ chief executive Kirk Hope said that despite challenges for a number of businesses in recent weeks, the healthy level of overall activity for November was a welcome result.

“Comments from respondents show that for some, the recent earthquakes have presented obvious challenges. However, seasonal factors such as the lead in to Xmas and improving weather conditions have helped make the November result the second equal highest in 2016.”

BNZ Senior Economist Doug Steel said that “the November PSI was a picture of strength, and contributes to the broad based growth the service sector has shown over 2016”.

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Kirk Hope

Kirk Hope

CEO, BusinessNZ

BNZ - BusinessNZ PSI

Time Series Data

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

Services Landscape

Tis (More Than) The Season

November’s Performance of Services Index (PSI) is a picture of strength. After looking a little slower a couple of months ago, the PSI re-stretched its legs up to 57.9 in November and well above its long term average of 54.1.
Read more  

Broad Based Growth

Service sector strength has been broad based. In the year to November, service industries have had an average PSI reading well above the breakeven 50 mark.
Read more  

Capacity Pressures

Interestingly, PSI employment is only marginally above average. This is despite the demand indicators like sales and new orders being so strong.
Read more  

Firm Demand Signals

Christmas quarter sales look to be shaping up well judging by the ongoing strength in the PSI distribution sector indicators. Although these figures are not seasonally adjusted, retail, at 60.7, is above its November average.
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 Nov
2015 		Jul
2016 		Aug
2016 		Sep
2016 		Oct
2016 		Nov
2016
BNZ – BusinessNZ PSI 58.5 54.5 58.0 54.4 56.6 57.9
Activity/Sales 60.6 57.5 61.7 57.7 59.1 64.2
Employment 55.3 53.7 54.3 51.7 54.6 52.2
New Orders/Business 62.5 57.2 60.3 56.1 57.6 61.7
Stocks/Inventories 56.6 51.5 55.9 53.2 53.9 52.1
Supplier Deliveries 56.8 47.4 56.2 52.0 54.7 56.0
View the Time Series Data

BNZ – BusinessNZ PSI Time Series

November 2012 – November 2016

International Results

J.P. Morgan Global Manufacturing PSITM

05 Dec 2016
53.3

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]

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New Zealand’s services sector fell back into contraction during December, according to the BNZ – BusinessNZ Performance of Services Index (PSI). The PSI for December was 48.8 (A PSI reading above 50.0 indicates that the service sector is generally expanding; below...

Over the line

New Zealand’s services sector recorded expansion in November, according to the BNZ – BusinessNZ Performance of Services Index (PSI). The PSI for November was 51.2 (A PSI reading above 50.0 indicates that the service sector is generally expanding; below 50.0 that it is...

View all PSI releases

BNZ – BusinessNZ
Performance of
Composite Index

57.2

GDP-Weighted Index

56.2

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 showing improved expansion from October to November.

The November GDP-Weighted Index (57.2) increased 0.7 points from October, while the Free-Weighted Index (56.2) rose 0.6 points. The increase in both options was due to the stronger result for the PSI.

PCI Time Series Table

The results are seasonally adjusted.

National Indicies Nov
2015 		Jul
2016 		Aug
2016 		Sep
2016 		Oct
2016 		Nov
2016
GDP-Weighted Index 57.9 54.6 57.7 54.8 56.5 57.2
Free-Weighted Index 56.8 55.4 56.7 55.8 55.6 56.2
View the Time Series Data

BNZ – BusinessNZ PCI Time Series

November 2012 – November 2016

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