New Zealand's services sector recorded its weakest level of activity in almost three years, as indicated by the Performance of Services Index (PSI) for May, which fell to 43.0 from a revised 46.6 in April. This decline reflects reduced consumer spending. Additionally, the Westpac Consumer Confidence Index for the second quarter (2Q) dropped to 82.2 from 93.2 in the previous quarter, further highlighting the cautious sentiment among consumers. Both indices reflect ongoing challenges in the New Zealand economy, impacting the $NZD.
New Zealand data - Q2 consumer confidence falls to 82.2 from 93.2 in Q1 https://t.co/7QsyEK76wr
New Zealand Westpac Consumer Confidence Q2: 82.2 (prev 93.2)
WESTPAC: NZ CONSUMER CONFIDENCE DECLINES TO 82.2 IN 2Q.
🇳🇿 New Zealand Westpac Consumer Sentiment $NZD Actual: 82.2 Previous: 93.2
NEW ZEALAND (2Q) WESTPAC CONSUMER CONFIDENCE ACTUAL: 82.2 VS 93.2 PREVIOUS
New Zealand’s services sector recorded its weakest level of activity in almost three years as consumers rein in spending https://t.co/1f8KwQqRbT
🇳🇿 New Zealand Performance of Services Index $NZD Actual: 43.0 Previous: 46.6
New Zealand Performance Services Index May: 43.0 (prevR 46.6)