The BNZ – BusinessNZ Performance of Services Index (PSI) into expansion after three months of contraction.
BusinessNZ chief executive Kirk Hope:
“The proportion of negative comments stood at 61.8% for September, down slightly from 63.9% in August. Overall, negative comments continued to be strongly dominated by uncertainty regarding the upcoming General Election, as well as the cost of living”.
BNZ Senior Economist Craig Ebert:
“the seasonally adjusted reading of 50.7 was clearly better than August’s 19-month low of 47.7. However, it was also clearly south of its long-term average of 53.5. Stabilised but hardly buoyant”.
Earlier from New Zealand today: