Sharechat Logo

NZ service sector expands for eighth month, led by new orders

Monday 17th October 2011

Text too small?

New Zealand’s service industry expanded for an eighth month in September, though slipping from August's pace, with growth led by new orders.

The BNZ-Business New Zealand performance of service index (PSI) fell 0.6 points from August to 53.2 on a scale where 50 marks the divide between expansion and contraction.

The Canterbury/Westland region posted the strongest growth, rising 0.7 points to 57.2, while Otago/Southland remained in contraction at a record-low 34.4.

The service sector’s performance was in line with manufacturing, matching a similar result in the performance of manufacturing index (PMI), released last week, which showed a sector in expansion though with the pace moderating.

In the latest month, four of the five PSDI sub-indexes expanded in September, with new orders slipping to 56.2 from 58.5 in August. Activity/sales fell to 51.2 from 56.4 while employment recovered to 53.5 from 49.4.

Stocks/inventories remained in contraction at 49.8 from 49.4 and supplier deliveries slipped to 52.1 from 53.1.

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

BPG - Blackpearl Acquires US AI Platform to Accelerate Growth
TGG - Response to media speculation
ARB - Annual Meeting Date and Director Nominations
CNU - Q4 FY25 Connections Update
MOVE FY25 Results and Investor Briefing 29 August 2025
RYM - First quarter trading update
July 11th Morning Report
IKE Announces equity raising of A$20 million
Chorus full year results date
FPH 2025 Notice of Annual Meeting and Voting Form