BNZ – BusinessNZ Performance of Services Index (PSI) for November is 51.2, jumping into expansion from October's 49.2.
The long-term average of this is 53.5.
BNZ Senior Economist Doug Steel:
- “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”
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Last week was a disappointing manufacturing PMI from NZ:
