New Zealand's services sector PSI fell to 47.1 in April.

New Zealand's services sector contracted at a faster pace in April, with the Performance of Services Index (PSI) dropping to 47.1 from 47.2 in March. Each sub-index, including sales, employment, new orders, stocks, and supplier deliveries, also contracted. This weak PSI and recent PMI suggest the country's GDP may track below year-earlier levels until the middle of this year, with potential downside risks to forecasts.

May 12, 2024
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