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2026-02-16 06:00:42
[New Zealand's service sector continued its expansion, but the momentum slowed slightly compared to last month] New Zealand's Services Performance Index (PSI) for January was 50.9, slightly lower than December's 51.5. While still above the 50-point threshold separating expansion from contraction, the reading fell 0.8 points month-on-month and is below the long-term survey average of 52.8. The data indicates that while the sector is experiencing moderate growth, it is still some distance from a strong recovery. Looking at the sub-indices, sector performance is mixed. Two of the five key sub-indices remained in expansion territory. Activity/Sales led the way with 54.2, indicating continued robust business volume for some companies; the New Orders index also remained in expansion territory at 51.8, suggesting some forward demand. However, the Inventory index fell back into contraction territory at 49.7, and the Employment index further weakened to 49.1, indicating that companies remain cautious in hiring.
