Services activity picks up in January on new orders, sales

Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.

Launch Radio player

New Zealand's services sector picked up in January, though the gain was driven only by new orders and sales, while other measures were in contraction.

The BNZ-Business New Zealand Performance of Services Index rose 1.1 points to 52.6. New orders climbed to 57.6 from 55.4 in December and sales rose to 53.5 from 51.6.

Of the three other diffusion indexes, employment slipped back into contraction at 49.9, stocks/inventories held at 49.9 and supplier deliveries remained in contraction at 48.1.

The measure of services reveals mixed activity levels across various sector groups. Property and business services fell to 50.4, the lowest since September, and wholesale trade dropped to 50.1, the lowest since April last year.

By contrast, health and community services climbed to 59, the highest since March 2012.

The strength was all in the North Island. The Northern region recorded a treading of 50.9 and Central was at 54.4 while Canterbury/Westland was at 49.8 and Otago/Southland at a very weak 42.

"Activity is certainly patchy, with differences evident across regions, industries and size of business," Business NZ chief executive Phil O'Reilly says.

(BusinessDesk)


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7258 0.0017 0.23%
AUD 0.9353 -0.0001 -0.01%
EUR 0.6654 -0.0001 -0.02%
GBP 0.4705 0.0001 0.02%
HKD 5.6261 0.0136 0.24%
JPY 89.2590 0.1880 0.21%

Commods

Commodity Price Change Time
Gold Index 1186.8 -18.680 2015-05-26T00:
Oil Brent 64.3 -1.590 2015-05-26T00:
Oil Nymex 58.0 -1.620 2015-05-26T00:
Silver Index 16.7 -0.305 2015-05-26T00:

Indices

Symbol Open High Last %
NZX 50 5795.9 5795.9 5795.9 -0.65%
NASDAQ 5076.9 5081.2 5089.4 -1.11%
DAX 11647.0 11688.3 11625.1 0.16%
DJI 18229.8 18229.8 18232.0 -1.04%
FTSE 6949.0 7000.0 6949.0 0.68%
HKSE 28214.7 28214.7 28249.9 -0.60%
NI225 20380.6 20513.2 20437.5 0.17%