The Services NZ PSI measures the performance of the services sector in New Zealand compared with the previous month. This composite index is based on diffusion indexes for sales, new orders, deliveries, inventories, and employment. Readings above 50 generally indicate expansion in the sector, making it a useful indicator for assessing economic activity and trends in the services industry.
A higher than expected figure should be seen as positive (bullish) for the NZD while a lower than expected figure should be seen as negative (bearish) for the NZD.