Steady operator – PMI

15 Oct 2015

55.4

September

+0.3

Monthly Change

expanding

faster rate

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Catherine Beard

Executive Director, ExportNZ & ManufacturingNZ

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New Zealand's manufacturing sector again showed increased expansion in September, according to the latest BNZ - BusinessNZ Performance of Manufacturing Index (PMI).

The seasonally adjusted PMI for September was 55.4 (a PMI reading above 50.0 indicates that manufacturing is generally expanding; below 50.0 that it is declining). This was 0.3 points higher than August, and the highest level of activity since February of this year.

BusinessNZ's executive director for manufacturing Catherine Beard said that the continued upwards movement in overall manufacturing activity was assisted by healthy levels of both production and new orders.

"Production was at its highest level since December last year, while new orders continued to improve. Overall, this should flow through into healthy results for the last quarter of the year".

"In addition, the proportion of positive comments for September (58.7%) picked up slightly from August (57.2%), with comments typically focused on a more competitive New Zealand dollar, continued growth in new customers and standard seasonal factors at play".

BNZ Senior Economist Doug Steel said the September PMI was very robust, especially sales and activity wise – a plus for economic growth through the second half of 2015. Something to watch is talk of some cost pressure appearing.

View the Time Series Data


Main Indicies

Regional Results

Manufacturing Landscape
View Doug Steel's profile

Doug Steel

Senior Economist, BNZ

Manufacturing Robust

The Performance of Manufacturing Index was a picture of health in September, with particular strength in new orders and production.
Read more  

Sales Positive, Cost Pressure Brews

Solid domestic demand, in one form or another, was a common positive factor noted by many respondents this month.
Read more  

Construction Indicators Push Higher

Another push higher in residential building consents is a positive signal for manufacturers.
Read more  

Domestic Spending Accelerates

Spending is ticking along rather swiftly, judging by the value of electronic card transactions.
Read more .

View full BNZ Manufacturing Snapshot

PMI Time Series Table

The results are seasonally adjusted.

National Indices Sep
2014
May
2015
Jun
2015
Jul
2015
Aug
2015
Sep
2015
BNZ - BusinessNZ PMI 58.451.955.153.755.155.4
Production58.949.056.156.055.958.0
Employment 56.251.453.850.753.051.0
New Orders59.652.358.154.857.357.8
Finished Stocks58.154.951.151.852.952.8
Deliveries61.552.655.153.752.956.4

View the Time Series Data

BNZ - BusinessNZ PMI Time Series

July 2016 – September 2015

PMI Time Series Graph

International Results

J.P. Morgan Global Manufacturing PMITM
1 Oct 2015

50.6

International PMI