Steady state 11 Dec 2015 54.7November+1.5Monthly Changeexpandingfaster rate Catherine Beard Director, Advocacy BusinessNZ View profile New Zealand's manufacturing sector remained in a steady state of expansion, according to the latest BNZ - BusinessNZ Performance of Manufacturing Index (PMI).The seasonally adjusted PMI for November was 54.7 (a PMI reading above 50.0 indicates that manufacturing is generally expanding; below 50.0 that it is declining). This was 1.5 points higher than October, and very similar to expansion levels experienced in both August and September. The sector has now been in continued expansion since October 2012.BusinessNZ's executive director for manufacturing Catherine Beard said that the November result continued the positive trend for the sector."New orders (57.8) was at its highest level since June, as was employment (53.7). Also, the proportion of positive comments for November (68.6%) was a healthy pick up from both October (61.8%) and September (58.7%). A number of comments centred on seasonal factors at play, although others mentioned good customer demand, both domestically and offshore. BNZ Senior Economist Doug Steel said the positive signals from the PMI continue. It affirms our thinking that the economy has grown a bit faster in the second half of 2015 than it did in the first half.View the Time Series Data Main Indicies Regional Results Manufacturing Snapshot Doug Steel Senior Economist, BNZ Manufacturing sales surgeTuesday's official manufacturing data for the third quarter of 2015 looked reasonably positive. But we don't think this fully translated into production growth in Q3 given indications of inventory unwind.Read more Strong new orders suggest more to comeNo one should have been too surprised by the positive signals in the official data noted above. Today's PMI suggests solid growth has continued into the final quarter of the year.Read more So manufacturers are hiringThe positive sales and orders environment for New Zealand's manufacturers is spilling over to more employment. The three month average has been trending higher in the second half of the year after a relatively slower first half.Read more What's driving it?There is never one factor as the manufacturing sector is too diverse. Consented floor space for both residential and non-residential buildings suggests further expansion lies ahead . Some of this is connected to fresh record highs in net migration and ultra-low interest rates.Read more . View full BNZ Manufacturing Snapshot PMI Time Series TableThe results are seasonally adjusted. National Indicies Nov2014 Jul2015 Aug2015 Sep2015 Oct2015 Nov2015 BNZ - BusinessNZ PMI 54.353.754.954.953.254.7 Production55.056.055.457.053.253.5 Employment 53.450.753.051.352.853.7 New Orders54.954.957.257.455.857.8 Finished Stocks51.951.652.352.349.149.9 Deliveries55.753.852.955.452.554.4 View the Time Series Data BNZ - BusinessNZ PMI Time Series January 2018 – November 2015 International ResultsJ.P. Morgan Global Manufacturing PMITM 8 Dec 201551.2 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