New Zealand Services Sector: Modest Growth, Cautious Hiring | January 2026 Analysis (2026)
New Zealand's services sector shows resilience in January, but growth slows. The BNZ–BusinessNZ Performance of Services Index (PSI) dipped to 50.9, indicating a slight slowdown from December's 51.5. Despite this, the sector remains in expansion territory, surpassing the crucial 50-point threshold. However, the reading falls below the long-term average of 52.8, suggesting a growth rate below the historical norm. This nuanced performance highlights a sector that is expanding but at a more measured pace, with ongoing challenges in confidence and hiring.
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