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.
Despite a slight improvement from the previous month, NZ’s manufacturing sector remained stubbornly in contraction during September, with a seasonally adjusted PMI for September at 48.2.
After six consecutive months of expansion, manufacturing activity fell into contraction during October, with a seasonally adjusted PMI for October at 46.5.