New Zealand’s BusinessNZ Performance of Services Index edged down to 50.9 in January 2026 from 51.7 in December, reflecting subdued confidence as holiday closures and seasonal shutdowns slowed enquiries and prolonged the usual post-Christmas lull. Elevated living and operating costs added further pressure. Even so, the sector remained in expansion territory for the first month of the year, following a prolonged period of contraction.
Among the five sub-indices, two stayed in positive territory: activity/sales rose to 54.2 from 52.5 in December, while new orders softened to 51.8 from 52.7. By contrast, stocks declined after previous growth, slipping to 49.7 from 52.0, and employment weakened further, easing to 49.1 from 49.6.
