The services sector PMI remain in contraction in New Zealand with coronavirus restrictions still weighing on activity. Says BNZ though:
- "we can surely expect the PSI, and even the PMI, to improve in December, given New Zealand’s move into the less-restrictive “traffic-light” system of COVID management near the start of the month. Still, the latest PSI and PMI results warn against taking a strong bounce in GDP for granted, at this point."
NZD/USD is little changed on the session circa 0.6802.
