Positive frame of mind – PMI 13 Aug 2015 53.5July-1.6Monthly Changeexpandingslower rate Catherine Beard Director, Advocacy BusinessNZ View profile New Zealand's manufacturing sector continued to show expansion for July, according to the latest BNZ - BusinessNZ Performance of Manufacturing Index (PMI). The seasonally adjusted PMI for July was 53.5 (a PMI reading above 50.0 indicates that manufacturing is generally expanding; below 50.0 that it is declining). Although this was 1.6 points lower than June, it was still the second highest result for the last four months. The sector has now been in expansion for 34 consecutive months. BusinessNZ's executive director for manufacturing Catherine Beard said that despite the slower rate of expansion in July, the proportion of positive comments from manufacturers moved up from June. "The proportion of positive comments rose from 53.6% in June to 60.8% in July. The recent fall in the value of the New Zealand dollar came through in many positive comments, while the lower dairy payout continued to trickle through for those who listed a negative influence". "Although activity in the sector has not been as strong as recent years, the fact that official figures show employment growth primarily coming from the manufacturing sector, as well as ongoing expansion in the PMI, means that the sector continues to hold its own". BNZ Senior Economist Doug Steel said it was good to see the PMI maintaining a solid pace through 2015. "This is supportive of economic growth ahead, although likely at a slower pace than previously achieved as the likes of the obviously intense headwind from the dairy sector filters through."View the Time Series Data Main Indicies Regional Results Manufacturing Snapshot Doug Steel Senior Economist, BNZ Growth ContinuesThe Performance of Manufacturing Index (PMI) indicates ongoing growth.Read more EmploymentThe ongoing growth in the manufacturing sector, as indicated by the PMI over recent years has driven up labour demand.Read more Foreign Exchange EffectsMany PMI respondents noted the lower NZD as a positive. This sentiment fits with results of other surveys.Read more Dairy ImpactThe extreme downturn in dairy revenue, actual and forecast, will have many downstream effects on the economy.Read more . View full BNZ Manufacturing Snapshot PMI Time Series TableThe results are seasonally adjusted. National Indicies Jul2014 Mar2015 Apr2015 May2015 Jun2015 Jul2015 BNZ - BusinessNZ PMI 54.154.752.051.955.153.5 Production54.654.952.449.256.155.9 Employment 52.450.051.351.453.850.8 New Orders56.156.250.652.558.054.4 Finished Stocks51.552.752.454.851.151.7 Deliveries54.154.552.252.655.053.5 View the Time Series Data BNZ - BusinessNZ PMI Time Series January 2018 – July 2015 International ResultsJ.P. Morgan Global Manufacturing PMITM 3 Aug 201551.0 In this section Media Releases Commentaries Photos Back to Business Cocktail Party 2019 State of the Nation Lunch Back to Business 2020 Deloitte and Chapman Tripp Election Conference 2020 - Leaders' Address Back to Business 2021 BNZ - BusinessNZ PMI Time Series Data View seasonally adjusted and unadjusted time series data for the BNZ - BusinessNZ PMI Sponsor StatementBNZ is delighted to be associated with the Performance of Manufacturing Index (PMI) and BusinessNZ.This association brings together the significant experience of leading business advocacy body BusinessNZ, and business finance specialist BNZ.We look forward to continuing our association with BusinessNZ and associated regional organisations, and to playing our part in the ongoing development of the New Zealand manufacturing sector. View website Media Comment For media comment, please contact: Catherine Beard, BusinessNZ 04 496 6560 Doug Steel, BNZ 04 474 6799 Technical Comment For more information or assistance with data interpretation, please contact: Steve Summers 04 496 6564 ssummers@businessnz.org.nz Our Contributors The BNZ - BusinessNZ PMI contains data obtained through BusinessNZ's regional organisations About the PMI The BNZ - BusinessNZ Performance of Manufacturing Index 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. Related Articles Blooming good – PMI Steady state – PMI Now hiring – PMI Stretching out – PMI Pumping production – PMI View more