A business survey showed New Zealand's services sector kept expanding in September for a fourth consecutive month, though growth remained weak amid cost pressures and election uncertainty. The BNZ-BusinessNZ Performance of Services Index eased to 50.9 from 51 in August, still above the 50-point line that separates expansion from contraction. New orders (52.6) and inventories (52.3) were the strongest sub-indices, while supplier deliveries (49.4) and employment (49.8) were weak, pointing to a narrow recovery. BusinessNZ CEO Katherine Rich said businesses remained cautious ahead of the general election, while BNZ economist Doug Steel noted services lagged manufacturing.
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NZD/USD
▲ Likely positiveRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/16/2026 | 0.56532 |
| Change that session | +0.56% |
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New Zealand's services sector kept expanding in September for a fourth straight month, though growth remained weak amid cost pressures and election uncertainty. The BNZ-BusinessNZ Performance of Services Index edged down to 50.9 from 51 in August, still above the 50-point line separating expansion from contraction. Businesses remain cautious ahead of the Nov. 7 general election, citing fuel prices, interest rates and cost-of-living pressures. New orders and inventories were the strongest sub-indices, while employment and supplier deliveries were weak, highlighting a narrow recovery. BNZ Senior Economist Doug Steel said the expansion was notable after two years of contraction, but it lagged well behind manufacturing.
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