New Zealand data: April Services PMI drops deeper into contraction at 48.5 (prior 49.1)

New Zealand services PMI, the BusinessNZ Performance of Services Index, for April 2025, 48.5

• down from March’s 49.1
• well below the average of 53.0 over the history of the survey

BusinessNZ’s CEO, Katherine Rich said the sector has fallen back into a pattern of mild contraction

BNZ’s Senior Economist Doug Steel:

• “for all the commentary around the economic recovery, the PSI is a good reminder that current conditions are extremely challenging. New Zealand’s PSI remains weaker than all our key trading partners. At 48.5, it’s consistent with a service sector still moving backwards”.

Earlier:

• New Zealand April Manufacturing PMI shows an uptick in expansion to 53.9 vs. prior 53.2

This article was written by Eamonn Sheridan at www.forexlive.com.