New Zealand’s services sector experienced a further pick-up in expansion during November, according to the BNZ – BusinessNZ Performance of Services Index (PSI).
 
The PSI for November was 57.9.  This was 1.3 points up from October, and the highest result since August (A PSI reading above 50.0 indicates that the service sector is generally expanding; below 50.0 that it is declining).

BusinessNZ chief executive Kirk Hope said that despite challenges for a number of businesses in recent weeks, the healthy level of overall activity for November was a welcome result. 

“Comments from respondents show that for some, the recent earthquakes have presented obvious challenges.  However, seasonal factors such as the lead in to Xmas and improving weather conditions have helped make the November result the second equal highest in 2016.”
 
BNZ Senior Economist Doug Steel said that “the November PSI was a picture of strength, and contributes to the broad based growth the service sector has shown over 2016”.

View PSI Time Series Data

Services Landscape
Tis (More Than) The Season
November’s Performance of Services Index (PSI) is a picture of strength. After looking a little slower a couple of months ago, the PSI re-stretched its legs up to 57.9 in November and well above its long term average of 54.1.
Read more  →

Broad Based Growth
Service sector strength has been broad based. In the year to November, service industries have had an average PSI reading well above the breakeven 50 mark.
Read more  →

Capacity Pressures
Interestingly, PSI employment is only marginally above average. This is despite the demand indicators like sales and new orders being so strong.
Read more  →

Firm Demand Signals
Christmas quarter sales look to be shaping up well judging by the ongoing strength in the PSI distribution sector indicators. Although these figures are not seasonally adjusted, retail, at 60.7, is above its November average.
Read more  →

View full BNZ Services Landscape  

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The first electric vehicle (EV) fast charger to be installed at any South Island supermarket opened today at New World Northwood in Christchurch. The charging station has been installed in a partnership between Orion, Foodstuffs South Island and ChargeNet NZ.

In other countries, like the US, EV charging at supermarkets and shopping malls is commonplace. This first charger at a South Island supermarket is being used by Foodstuffs as a trial before considering the rollout of charging stations at other New World, PAK’nSAVE and Four Square locations in the South Island.

“We’re always looking for ways to improve our customers’ overall shopping experience, and save them time too, and letting EV drivers come to New World Northwood to charge up their vehicle while they’re shopping achieves both,” says Steve Anderson, CEO of Foodstuffs South Island. “We’re increasingly focussed on sustainability, and the introduction of EV chargers at our stores, like this one, is just one more way we’re helping the environment.”

Rob Jamieson, Orion CEO, says: “We’re delighted to be able to work with Foodstuffs South Island and ChargeNet NZ on the installation of this EV fast charger.”

“As EVs become more mainstream in coming years, having chargers located at supermarkets will be part of everyday life. The New World Northwood site is strategically placed for tourists coming into the city so it makes sense to install the first EV fast charger in this location,” says Mr Jamieson.

The fast charger installed at Northwood is part of ChargeNet NZ’s nationwide network of EV charging stations. ChargeNet NZ have opened a number of fast charge stations in partnership with various electricity suppliers, site owners and BMW. A fast charger typically charges an EV in around 20 to 30 minutes. EV owners need to open an account at charge.net.nz to be able to use the charger.

ChargeNet NZ Chief Executive, Steve West, said: “The Northwood charging station is another important link in our nationwide network. This makes EVs a great option for even more people, and adds much needed resilience to the Canterbury infrastructure. The collaborative approach taken at Northwood has worked well, and I hope to see many more Foodstuffs locations in the future.”

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