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Top News In ந்ஸ் செயல்திறன் ஆஃப் சேவைகள் குறியீட்டு Today - Breaking & Trending Today

Services sector expanding for first time in five months

Photo: 123RF
The BNZ-Business NZ Performance of Services Index (PSI) for March was 52.4 points, which was up 2.7 points from February and the strongest result since July.
However it was below the long-term average of 53.8, with a reading above 50.0 indicating the service sector was generally expanding.
The move back into expansion was in line with last month s manufacturing sector activity, which soared to record levels, towering over the long-term averages for production and new orders.
New orders, sales and employment also led the services sector back into expansion, while supplier deliveries and inventories remained in contraction.
Any sustained shift towards the services sector exhibiting ongoing expansion will need to see activity/sales and new orders remaining near or above their long term average results to continue momentum, Business NZ chief executive Kirk Hope said. ....

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BNZ services index falls by 1.2 points, down to 47.9

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The BNZ-Business NZ Performance of Services Index (PSI) fell by 1.2 points in January to 47.9, which indicates the sector is contracting for the third consecutive month.
A reading above 50 in the PSI suggests expansion, while anything below signals contraction. The long run historical average of the PSI is 54.
The employment sub-index fell sharply over the past month, down by about 6 points to 46.9, which points to jobs being shed from the sector.
BNZ senior economist Doug Steel said firms were struggling with ongoing issues related to falling inventories and difficulties getting supplies.
If we look at the component of the PSI, the supplier deliveries, that index is down at 41.6..[which] is quite a dreadful reading and suggests there are multitude of issues out there. ....

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Services sector contracted to lowest level in 6 months - BNZ

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The BNZ-Business NZ Performance of Services Index (PSI) fell by 4 points in October to 46.7, its lowest level since May.
A reading above 50 indicated growth, while anything below signalled contraction.
BNZ senior economist Craig Ebert said the congestion in global supply routes is hurting the sector, with small firms feeling the pinch more than their larger counterparts.
The component that s often not looked at very closely was the weakest, supply of deliveries, so the delivery system is getting a bit slower but also activity sales were down. and inventory was also quite weak.
The employment sub-index was unchanged, which pointed to jobs being shed in the sector for the ninth consecutive month. ....

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