FX.co ★ New Zealand Services PMI Lowest in 4 Months

The BusinessNZ Performance of Services Index for New Zealand decreased to 48.5 in April 2025, from a revised 48.9 in March, marking its lowest point since December. This represents the third consecutive month of contraction within the services sector, and the steepest decline observed in this series, significantly undercutting the long-term average of 53.0. The downturn is attributed to weak consumer demand, heightened living expenses and interest rates, persistent economic and geopolitical uncertainties, seasonal slowdowns, and low business confidence. Employment figures fell to 48.2, down from last month’s stagnation at 50.0, while activity/sales continued their downward trend for the third month in a row, remaining at 47.3. Meanwhile, new orders experienced modest growth for the second consecutive month, rising slightly to 50.9 from 50.8. Inventories saw a quicker decline, dropping to 48.5 from 48.9, and delivery times also shortened further to 45.8 from 48.2, highlighting an easing in supply chain pressures.