The BNZ - BusinessNZ Performance of Service Index (PSI) rose 2.2 points in June from May to 55.7 on a seasonally adjusted basis, its eighth consecutive month of expansion.
Employment recorded the biggest lift of the five sub-indcies in the survey, rising 4.5 points to 55.2, its highest level since June 2007.
The other four sub-indicies - activities/sales, new orders/business, supplier deliveries and stocks/inventories - were also in expansion mode recording scores above 50. The only one to record a lower score than in May was stock/inventories, down to 50.1 from 50.8.
However, the overall rise in the level of expansion during June didn't boost the proportion of positive comments the survey received, with these falling to 47.9% in June from 50.6% in May and 53.2% in April.
A monthly survey of the services sector, the PSI provides an early indicator of activity levels. A PSI reading above 50 points indicates services activity is expanding; below 50 indicates it is
contracting. The main PSI and sub-index results are seasonally adjusted.
See full PSI attachment below.
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