New Zealand Services PMI for September 50.7 (prior 47.1)

<p>The BNZ – BusinessNZ Performance of Services Index (PSI) into expansion after three months of contraction.</p><p>BusinessNZ chief executive Kirk Hope:</p><p>“The proportion of negative comments stood at 61.8% for September, down slightly from 63.9% in August. Overall, negative comments continued to be strongly dominated by uncertainty regarding the upcoming General Election, as well as the cost of living”. </p><p>BNZ Senior Economist Craig Ebert:</p><p>“the seasonally adjusted reading of 50.7 was clearly better than August’s 19-month low of 47.7. However, it was also clearly south of its long-term average of 53.5. Stabilised but hardly buoyant”.</p><p>Earlier from New Zealand today:</p><ul><li><a href="https://www.forexlive.com/technical-analysis/nzdusd-pop-on-new-zealand-election-results-sets-up-a-short-fade-levels-to-target-20231015/" target="_blank" rel="follow" data-article-link="true">NZD/USD pop on New Zealand election results sets up a short fade – levels to target</a></li></ul>

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