The latest data on New Zealand's Performance of Services Index indicates a slight decline to 47.1 in May 2024, down from the previous month's figure of 47.2. The Performance of Services Index is a key indicator of the health of the services sector in the country, with a reading below 50 indicating a contraction in the sector.
This slight dip may raise concerns about the overall performance of the services industry in New Zealand. Economists and analysts will be monitoring future data releases closely to assess whether this trend continues or if there are signs of improvement. The update on the Performance of Services Index for May 2024 provides valuable insights for policymakers and businesses as they navigate the economic landscape in New Zealand. Stay tuned for further updates on the country's economic indicators.
