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New Zealand Services Index Plummets Amid Cost Concerns

1/23/2025

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Summary

Story summary

New Zealand's BNZ Performance of Services Index declined to 47.9 in December, indicating ten months of contraction.
Key indicators revealed widespread weakness: activity/sales decreased to 46.2, and supplier deliveries dropped to 47.7.
Negative sentiment increased to 57.5%, primarily due to cost-of-living concerns.
Meanwhile, Australia’s Performance of Services Index remained stable at 50.8.

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Story summary

New Zealand's BNZ Performance of Services Index declined to 47.9 in December, indicating ten months of contraction.
Key indicators revealed widespread weakness: activity/sales decreased to 46.2, and supplier deliveries dropped to 47.7.
Negative sentiment increased to 57.5%, primarily due to cost-of-living concerns.
Meanwhile, Australia’s Performance of Services Index remained stable at 50.8.