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.
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.
NZ’s manufacturing sector fell further in contraction during August, with a seasonally adjusted PMI for August at 47.2.
NZ’s manufacturing sector remains largely in a holding pattern, with a seasonally adjusted PMI for July at 49.4.
Manufacturing activity produced a mid-year flat patch, which was in line with offshore movements, with a seasonally adjusted PMI for June at 50.2.
Manufacturing activity bounced back from April’s dip to show strong expansion for the current month, with a seasonally adjusted PMI for May at 55.7.
Manufacturing activity dropped back into contraction after four months of expansion, with a seasonally adjusted PMI for April at 48.0.
Manufacturing activity continued to show healthy levels of expansion, with a seasonally adjusted PMI for March at 54.5.
Manufacturing activity experienced a sizeable lift in activity for February, with a seasonally adjusted PMI for February was 57.7.
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.