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New Zealand services PMI for May: 56.1 (prior 61.2)

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Business NZ Performance of Services Index for May 2021

BusinessNZ chief executive Kirk Hope 

  • “New Zealand continues to follow global trends with strong New Orders/Business (62.1) and Activity/Sales (58.7).  However, Supplier Deliveries (45.1) remains solidly in contraction.”

BNZ Senior Economist Doug Steel

  • “while the current strength in the PSI (and PMI) says good things for economic growth over coming quarters, the obvious supply side stresses suggests significant upward pressure is building on inflation.”

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