The Business NZ Performance of Services Index (PSI) is a composite index based on the diffusion indexes for sales, new orders, delivered, inventories and employment. A reading above 50 indicates an expansion of the Services sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.
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.