Manufacturing activity experienced a sizeable lift in activity for February, with a seasonally adjusted PMI for February was 57.7.
Performance of Manufacturing Index (PMI)
BNZ – BusinessNZ Performance of Manufacturing Index (PMI) is a monthly survey of the manufacturing sector providing an early indicator of activity levels. A PMI reading above 50 points indicates manufacturing activity is expanding; below 50 indicates it is contracting. The main PMI and sub-index results are seasonally adjusted.
Manufacturing activity remained in expansion but clear division lines are drawn,with a seasonally adjusted PMI for January at 50.5.
Manufacturing activity improved enough over December to be back in positive territory, with a seasonally adjusted PMI for December at 51.9.
Manufacturing activity fell further into contraction during November, with a seasonally adjusted PMI for November at 45.7.
After six consecutive months of expansion, manufacturing activity fell into contraction during October, with a seasonally adjusted PMI for October at 46.5.
Despite another dip in expansion, manufacturing activity managed to keep its head above water, with a seasonally adjusted PMI for September at 50.8.
August saw a mix of results that kept manufacturing in expansionary mode, with a seasonally adjusted PMI for August at 52.9.
July saw ongoing durability in New Zealand’s manufacturing sector, partly aided by our trans-Tasman cousins, with a seasonally adjusted PMI for July at 53.2.
Activity in the manufacturing sector for June saw an ongoing and steady level of expansion, with a seasonally adjusted PMI for June at 54.3.
The month of May saw the manufacturing sector continue its march towards stronger expansion, with a seasonally adjusted PMI for May at 54.7.
Despite recent shocks to the economy, manufacturing has continued its run of expansion, with a seasonally adjusted PMI for April at 51.5.
Manufacturing activity has been shaken over the last couple of months, but is still keeping its head above water, with a seasonally adjusted PMI for March at 50.1.