New Zealand Performance of Services Index for June 2024, via BusiznessNZ, performed even worse than the appalling May report.
June came in at 40.2, second month in a row the lowest level of activity for the sector for a non-COVID lockdown month since the survey began in 2007
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- prior 43.0
- Employment sub index @45.6 was at its lowest point since February 2022
BNZ’s Senior Economist Doug Steel said that “the Performance of Services Index has been well below average for more than a year. Moreover, the weakness appears to be accelerating”.
NZD/USD has weakened to below 0.6100
