New Zealand services PMI for November jumps into expansion ...Middle East

BNZ – BusinessNZ Performance of Services Index (PSI) for November is 51.2, jumping into expansion from October's 49.2.The long-term average of this is 53.5.BNZ Senior Economist Doug Steel:“despite November’s lift, the PSI remains below its long-term norm of 53.5. And the combination of contracting activity/sales and rising inventories raises questions about the sustainability of the nudge higher”---Last week was a disappointing manufacturing PMI from NZ:New Zealand data: November manufacturing PMI 46.7 (up from 42.5 in October) This article was written by Eamonn Sheridan at www.forexlive.com.

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