New Zealand Services Index Improves To 58.6 In June

The services sector in New Zealand continued to expand in June, and at a faster rate, the latest survey from BusinessNZ revealed on Monday with a Performance if Services Index score of 58.6.

That’s up from 56.3 in May, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Among the individual components, new orders (66.1), activity/sales (62.5), employment (56.5) and stocks (50.9) were in expansion territory, while supplier deliveries (46.2) remained soft.

“While the key indicators show very healthy expansion, comments from respondents were very similar to its sister survey the PMI, highlighting staff/skills shortages and general logistics issues,” said BusinessNZ Chief Executive Kirk Hope.

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