BNZ - BusinessNZ Performance of Services Index (PSI)

Services PMIs ... does anyone even care? :-D

PSI for March 59.0

  • second highest level of expansion over the last 18 months

BusinessNZ chief executive Kirk Hope:

  • "New orders/business (66.4) were at its highest level since June 2007, which should feed through to activity/sales in the months ahead. Combined with 65.6% of respondents providing positive comments, the sector is currently in a solid and positive place"

BNZ Senior Economist Doug Steel:

  • "the PSI has been a bit like a stuck record, set on high volume. In fact, the volume dial is even getting tweaked up a bit more".

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In other New Zealand news, the country plans to cap visas for low-skilled migrant workers at 3 years

  • Will also change Essential Skills work visas