Smooth operator – PSI 19 Sep 2016 57.9August+3.4Monthly Changeexpandingfaster rate Kirk Hope Chief Executive, BusinessNZ View profile New Zealand's services sector experienced an increase in expansion across all main indicators, according to the BNZ - BusinessNZ Performance of Services Index (PSI).The PSI for August was 57.9. This was 3.4 points up from July, and the highest value since December 2015 (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 it was pleasing to see all sub-indexes improve from July, with activity/sales (61.6) and new orders/business (60.8) both rising back above the 60 point range."Looking at comments, the proportion of positive comments for August (65.2%) was largely unchanged from July (65.6%), with a number mentioning new customers and markets creating enhanced opportunities for growth."Regarding the latest PSI results, BNZ Senior Economist Doug Steel said "The widespread positivity in August's PSI combined with the overall good-looking Performance of Manufacturing Index from last week indicates above trend economic growth has continued into the second half of the year". View the PSI Time Series Data Main Indicies Regional Results Doug SteelSenior Economist, BNZ Super ServiceSuper service returns. After July's dip to an averagelooking 54.5, the Performance of Services Index (PSI) bounced back strongly in August, to 57.9.Read more Growth SupportiveThe widespread positivity in August's PSI combined with the overall good-looking Performance of Manufacturing Index from last week indicates above trend economic growth has continued.Read more Employment Trends StrongPSI employment remained very firm, at 54.3 in August from 53.8 in July. It is a useful offset to the employment dip we saw in the PMI last week.Read more View the BNZ Services Landscape PSI Time Series TableThe results are seasonally adjusted. National Indicies Aug2015 Apr2015 May2016 Jun2016 Jul2016 Aug2016 BNZ - BusinessNZ PSI 57.557.856.956.654.557.9 Activity/Sales 61.063.160.158.057.561.6 Employment53.753.854.454.953.854.3 New Orders/Business63.461.359.958.357.760.8 Stocks/Inventories51.552.652.553.551.555.9 Supplier Deliveries53.054.852.955.747.556.4 View the PSI Time Series Data BNZ - BusinessNZ PSI Time SeriesJuly 2014 – August 2016 International ResultsJ.P. Morgan Global Manufacturing PSITM 5 Sep 201651.5 57.8GDP-Weighted Index56.8Free-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 an increase in expansion from July to August.The August GDP-Weighted Index (57.8) increased 3.1 points from July, while the Free-Weighted Index (56.8) rose 1.3 points. The pick up in the GDP-Weighted result was mainly due to a stronger PSI value for August after a dip in expansion during July. PCI Time Series TableThe results are seasonally adjusted. National Indicies Aug2015 Apr2016 May2016 Jun2016 Jul2016 Aug2016 GDP-Weighted Index 57.157.756.956.854.757.8 Free-Weighted Index56.857.257.457.155.556.8 View the PCI Time Series Data BNZ - BusinessNZ PCI Time SeriesJuly 2014 – 2016 In this section Surveys & Statistics Performance of Manufacturing Index Performance of Services Index Compliance Cost Survey Exporters Survey Southern Cross Health Society - BusinessNZ Wellness in the Workplace Survey Reports & Publications BusinessNZ Planning Forecast International Guides & Tools COVID-19 COVID-19: Essential Service Areas COVID-19: Essential Services List COVID-19: Essential Services QA BNZ - BusinessNZ PSI Time Series Data View seasonally adjusted and unadjusted time series data for the BNZ - BusinessNZ PSI BNZ - BusinessNZ PCI Time Series Data View seasonally adjusted and unadjusted time series data for the BNZ - BusinessNZ combined PMI & PSI. 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 Media Comment For media comment, please contact: Kirk Hope, 04 496 6560 Doug Steel, BNZ 04 474 6799 Technical Comment For more information or assistance with data interpretation, please contact: Steve Summers 04 496 6564 ssummers@businessnz.org.nz Our ContributorsThe BNZ - BusinessNZ PSI contains data obtained through BusinessNZ's regional organisations About the PSIThe 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.About the PCIThe 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. Related Articles RMA shakeup long overdue Softening in September – PSI Spring is in the air Smooth operator – PSI Easing expansion – PSI View more