14.06.202622:30:00UTC+00New Zealand Services Activity Slips Further into Contraction in June Reading

New Zealand’s services sector has weakened further, with the Performance of Services Index (PSI) easing to 47.5 as of 14 June 2026, down from 48.9 in April 2026. The latest figure signals a deeper contraction in activity, as readings below 50 indicate a decline in overall services output.

The back-to-back sub-50 readings suggest ongoing softness across key service industries, adding to concerns about the momentum of New Zealand’s domestic economy. The move from 48.9 to 47.5 points to a broadening slowdown rather than a short-term dip, and will likely sharpen attention on how persistent this weakness proves in the months ahead.

For financial markets and policymakers, the continued contraction in services may influence expectations around growth and could factor into future assessments of economic resilience, especially if it begins to weigh more heavily on employment and business confidence within the sector.