Pumping production – PMI

17 Jun 2016




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Catherine Beard

Director, Advocacy BusinessNZ

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New Zealand's manufacturing sector continued its upwards momentum for May, according to the latest BNZ - BusinessNZ Performance of Manufacturing Index (PMI).

The seasonally adjusted PMI for May was 57.1 (a PMI reading above 50.0 indicates that manufacturing is generally expanding; below 50.0 that it is declining). This was 0.5 points higher than April, and the highest level of expansion since January. The sector has been in expansion in almost all months since October 2012.

BusinessNZ's executive director for manufacturing Catherine Beard said that the key components to the overall PMI result continued to show strong results.

"Production (61.1) lifted its head above the 60-pint mark for the first time since December 2014, while new orders (59.9) has remained within a tight band range of 2.5 points since November 2015. In addition, the proportion of positive comments rose to 66.4%, with a number of positive comments pointing to business as usual and a steady flow of activity/orders."

BNZ Senior Economist, Craig Ebert, said that "the production readings in the PMI have certainly kept our chins up, when recent results on manufacturing GDP have looked a bit wobbly."

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Main Indicies

Regional Results

Manufacturing Snapshot

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Craig Ebert

Senior Economist, BNZ


New Zealand's Performance of Manufacturing Index (PMI) firmed a bit further in May, while its details were even more encouraging.

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Manufacturing GDP

The production readings in the PMI have certainly kept our chins up, when recent results on manufacturing GDP have looked a bit wobbly.

Read more  


One of the brighter spots in the Q1 GDP accounts was around forestry. Having had a great run, activity-wise, post GFC the industry struggled a bit over 2015. However, there were signs of renewed life in the March quarter of this year.

Read more  


All things considered, Australia is still New Zealand's largest trading partner. And so it's worth noting that Australia's economy has been digesting a pronounced correction in mining investment, to be performing relatively well, overall.

Read more .

View full BNZ Manufacturing Snapshot

PMI Time Series Table

The results are seasonally adjusted.

National Indicies May
BNZ - BusinessNZ PMI 52.057.855.954.756.657.1
Employment 50.954.348.949.050.052.8
New Orders53.859.760.558.059.759.9
Finished Stocks54.954.656.955.253.448.9

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BNZ - BusinessNZ PMI Time Series

January 2018 – May 2016

PMI Time Series Graph

International Results

J.P. Morgan Global Manufacturing PMITM
1 Jun 2016


International PMI