FX.co ★ New Zealand Services Activity Falls to 6-Month Low

New Zealand's BusinessNZ Performance of Services Index (PSI) decreased to 46.9 in November 2025, down from 48.4 in October, indicating a further slide into contraction and marking the weakest level in six months. This figure is significantly below the long-term average of 52.8. All five of the index's sub-categories reported contractions. Activity/Sales saw the most significant decline at 45.8, while New Orders/Business showed a slight improvement to 49.3, albeit still below the neutral threshold. Employment also weakened, falling to 46.4 from October. Despite the intensified contraction in November, the proportion of negative feedback lessened to 52.9%, compared to 54.1% in October and 58.0% in September. Contributors continued to highlight a difficult economic environment, attributing the slowdown in the services sector to weak consumer confidence, high living costs, inflation, increased interest rates, and decreased discretionary spending.