New Zealand’s Performance of Services Index (PSI) recorded a slight increase as of 15 September 2024, signaling a gradual shift in the service sector’s activity. The PSI rose to 45.5 in September, up from the previous figure of 45.2.While the 0.3 point rise suggests a minor improvement, it still places the index below the 50.0 threshold, indicating that the service sector continues to experience contraction. This latest data point offers a glimmer of hope for New Zealand’s service industries, though challenges clearly remain as they navigate through a period of subdued demand and operational difficulties.Economic analysts will be watching closely to see if this incremental progress can gain momentum in the coming months or if the sector will face further hurdles amidst a complex global economic landscape.The material has been provided by InstaForex Company – www.instaforex.com
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