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New Zealand Services PMI for March 51.6 (vs. 48.6 previously)

February marked the 7 consecutive month of contraction for this index.

Mars records expansion to 51.6

BNZ Chief Economist Craig Ebert:

  • “Despite some horribly weak components, the PSI supported the idea that GDP is on track to recover in the second quarter, following a flat to negative performance in the first quarter.”

Unequal results of the sub-indexes:


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