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New Zealand Services Sector Swings To Expansion In November - BusinessNZ
(RTTNews) - The services sector in New Zealand moved into expansion territory in November, the latest survey from BusinessNZ revealed on Monday with a Performance of Services Index score of 51.2.
That's up from 49.2, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, employment (51.0), new orders (52.3), stocks (55.0) and supplier deliveries (52.9) all expanded, while activity/sales (48.7) remained in contraction.
"Despite November's lift, the PSI remains below its long-term norm of 53.5. And the combination of contracting activity/sales and rising inventories raises questions about the sustainability of the nudge higher," BNZ Senior Economist Doug Steel said.
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New Zealand Manufacturing Sector Improves In June - BusinessNZ
The manufacturing sector in New Zealand continued to contract in June, albeit at a slower rate, the latest survey from BusinessNZ revealed on Friday with a Performance of Manufacturing Index score of 48.8.
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2 days ago
New Zealand Holds Key Rate As Expected
The Reserve Bank of New Zealand left its benchmark interest rate unchanged on Wednesday citing elevated level of uncertainty and near-term risks to inflation. The Monetary Policy Committee, governed by Christian Hawkesby, decided to hold the Official Cash Rate at 3.25 percent. The bank has paused the easing cycle for the first time since it started cutting rates in August 2024.
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3 days ago
New Zealand Building Permits Jump 10%In May
The number of building permits issued in New Zealand was up a seasonally adjusted 10 percent on month in June, Statistics New Zealand said on Tuesday - coming in at 3,151.
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12 days ago
New Zealand GDP Expands 0.8% In Q1
New Zealand's gross domestic product expanded by a seasonally adjusted 0.8 percent on quarter in the first quarter of 2025, Statistics New Zealand said on Thursday.
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24 days ago
New Zealand Has NZ$5.5 Billion Current Account Shortfall
New Zealand had a seasonally adjusted current account deficit of NZ$5.5 billion in the first quarter of 2025, Statistics New Zealand said on Wednesday.
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25 days ago
New Zealand Terms Of Trade Climbs 1.9% In Q1
New Zealand's terms of trade was up 1.9 percent on quarter in the first quarter of 2025, Statistics New Zealand said on Tuesday.
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40 days ago
New Zealand Building Consents Slump 15.6% In April
The total number of building permits issued in New Zealand was down a seasonally adjusted 15.6 percent on month in April, Statistics New Zealand said on Friday - following the 10.7 percent increase in March.
In April, there were 2,418 new dwellings consented, comprising: 1,148 stand-alone houses; 1,105 townhouses, flats, and units; 85 retirement village units; and 80 apartments.
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44 days ago
New Zealand Cuts Interest Rate By 25 Bps As Expected
The Reserve Bank of New Zealand reduced its benchmark rate by a quarter-point, as widely expected on Wednesday, as higher trade tariffs and increased policy uncertainties overseas are set to weigh on domestic economic outlook. The Monetary Policy Committee, led by acting governor Christian Hawkesby, decided to cut the Official Cash Rate by 25 basis points to 3.25 percent. The decision was passed
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45 days ago
