Orderly business – PMI 17 Mar 2017 55.2February+3.0Monthly Changeexpandingfaster rate Catherine Beard Director, Advocacy BusinessNZ View profile New Zealand's manufacturing sector saw activity increase in February after a dip in expansion during January, according to the BNZ - BusinessNZ Performance of Manufacturing Index (PMI). The seasonally adjusted PMI for February was 55.2 (a PMI reading above 50.0 indicates that manufacturing is generally expanding; below 50.0 that it is declining). This was 3.0 points higher than January, and the highest level of expansion since September 2016. Overall, the sector has remained in expansion in almost all months since October 2012.BusinessNZ's executive director for manufacturing Catherine Beard said that it was pleasing to see the sector pick up after January's dip due to mostly seasonal factors. "While a few respondents continued to outline negative seasonal factors impacting their overall activity levels during February, the 61.7% of positive comments received pointed to increased orders, both at a domestic and offshore level". BNZ Senior Economist, Craig Ebert, said "it was good to see the PMI bounce in February. Had it not, we would have become a little apprehensive about the way it was going".View the Time Series Data Main Indicies Regional Results Manufacturing Snapshot Craig Ebert Senior Economist, BNZ The PMIIt was good to see New Zealand's Performance of Manufacturing Index (PMI) bounce in February. Had it not, we would have become a little apprehensive about the way it was going.Read more Manufacturing GDPFebruary's PMI is particularly encouraging in suggesting the weak manufacturing result we saw in yesterday's Q4 GDP report was transitory rather than the start of a genuine struggle.Read more ForestryThe local forestry industry is doing well. That said, its activity in the final quarter of 2016 eased from the level it spiked to in Q3.Read more Exchange RateSupporting New Zealand's manufacturing sector, in general, has been the recent moderation in the currency. Aided by a resurgent US dollar, NZD/USD (and NZD/CNY, for that matter) has dropped about 5% since early February.Read more View full BNZ Manufacturing Snapshot PMI Time Series TableThe results are seasonally adjusted. National Indicies Feb2016Oct2016Nov2016Dec2016 Jan2016 Feb2017 BNZ - BusinessNZ PMI 55.355.154.454.352.255.2 Production56.157.857.257.051.756.8 Employment 49.653.249.352.051.651.4 New Orders58.654.957.852.853.157.2 Finished Stocks55.252.750.252.050.955.1 Deliveries55.555.553.154.653.354.0 View the Time Series Data BNZ - BusinessNZ PMI Time Series January 2018 – February 2017 International ResultsJ.P. Morgan Global Manufacturing PMITM 1 Mar 201752.9 In this section Surveys & Statistics Performance of Manufacturing Index Performance of Services Index Compliance Cost Survey Exporters Survey Southern Cross Health Society - BusinessNZ Wellness in the Workplace Survey Reports & Publications BusinessNZ Planning Forecast International BusinessNZ RAT Suppliers Guides & Tools BusinessNZ RAT Suppliers RATs for non-critical business, agencies and organisations 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 Craig Ebert, 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