BusinessNZ Performance of Services Index (PSI), back in expansion for the first time since February this year at 54.1
- prior 37.2
Services PMIs pretty much everywhere have been slower to improve than manufacturing PMIs, which makes this NZ result impressive indeed.
BusinessNZ chief executive Kirk Hope
- comments from respondents underlie the two broad effects COVID-19 is currently having on the sector. On the positive side, a number outlined a catch-up or bounce back from post lockdown conditions. However, those outlining negative comments are squarely centred on the disruption COVID-19 is still playing on their business.
BNZ Senior Economist Doug Steel
- "activity/sales and new orders, which were hit hard over recent months, have led the bounce back. The activity/sales index has ramped up to 58.7 from 32.7 in May, while new orders jumped to 59.6 from 35.2. It is positive, if only one step forward after a giant leap backwards".
