BNZ – BusinessNZ
Performance of
Services Index

Solid end to services year – PSI

24 Jan, 2017
58.4
December
+0.3

Monthly Change

expanding
faster rate

BNZ Senior Economist Doug Steel said that “to insert”. New Zealand’s services sector experienced further expansion during December to round out a solid year of activity, according to the BNZ – BusinessNZ Performance of Services Index (PSI).

The PSI for December was 58.4. This was 0.3 points up from November, and the highest result for 2016 (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 2016 ended off on a high note, with both production/sales (63.5) and new orders/business (60.9) remaining about the 60-point mark.

“The average activity result for 2016 was 56.6. While this was slightly down on the 57.8 recorded for 2015, it was still the third highest average yearly result since the survey began.”

BNZ Senior Economist Craig Ebert said that “unlike its PMI cousin, the PSI’s new orders/business index remained clearly above normal.  This heralds sustained strong expansion in sales activity, which was already pumping in December “.

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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

The PSI

New Zealand’s Performance of Services Index (PSI) maintained a perky pace in December, with an index reading of 58.4.
Read more

QSBO Services

That the services sector continues to barrel along rather well was also in evident in last week’s Quarterly Survey of Business Opinion (QSBO).
Read more

Retail

One of the question marks we have around the services sector is the performance of the retail sector.  We say this with December’s electronic card transactions having failed to bounce back from their November dip, capping our expectations around Q4 retail volume growth.
Read more

Employment

One of the factors supporting consumer spending, of course, is the labour market.  Today’s PSI still has good news re the latter.
Read more

View full BNZ Services Snapshot
Craig Ebert

Craig Ebert

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 Dec
2015 		Aug
2016 		Sep
2016 		Oct
2016 		Nov
2016 		Dec
2016
BNZ – BusinessNZ PSI 58.1 58.1 54.5 56.7 58.1 58.4
Activity/Sales 61.6 61.8 57.8 59.2 64.3 63.5
Employment 53.5 54.3 51.7 54.6 52.3 54.0
New Orders/Business 63.1 60.4 56.2 57.7 61.9 60.9
Stocks/Inventories 54.4 55.9 53.3 53.9 52.1 52.6
Supplier Deliveries 54.1 56.3 52.2 54.9 56.2 56.8
View the Time Series Data

BNZ – BusinessNZ PSI Time Series

December 2012 – December 2016

International Results

J.P. Morgan Global Manufacturing PSITM

05 Jan 2017
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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BNZ – BusinessNZ
Performance of
Composite Index

57.9

GDP-Weighted Index

56.5

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 show slightly different movements from November to December.

The December GDP-Weighted Index (57.9) increased 0.4 points from November, while the Free-Weighted Index (56.5) remained unchanged.

PCI Time Series Table

The results are seasonally adjusted.

National Indicies Dec
2015 		Aug
2016 		Sep
2016 		Oct
2016 		Nov
2016 		Dec
2016
GDP-Weighted Index 58.0 57.6 54.9 56.6 57.5 57.9
Free-Weighted Index 57.6 56.7 55.8 55.8 56.5 56.5
View the Time Series Data

BNZ – BusinessNZ PCI Time Series

December 2012 – December 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