Sailing along – PMI 16 Jun 2017 58.5May+1.6Monthly Changeexpandingfaster rate Catherine Beard Executive Director,, ExportNZ & ManufacturingNZ View profile New Zealand's manufacturing sector saw expansion in activity lift during May, according to the BNZ - BusinessNZ Performance of Manufacturing Index (PMI). The seasonally adjusted PMI for May was 58.5 (a PMI reading above 50.0 indicates that manufacturing is generally expanding; below 50.0 that it is declining). This was 1.6 points higher than April, and the highest value since January 2016. Overall, the sector has remained in expansion in all months since October 2012.BusinessNZ's executive director for manufacturing Catherine Beard said that the lift in expansion for May more than eclipsed the dip for the previous month. "The May value for new orders (61.2) remained above the 60-point range, and the highest three-monthly level of expansion for that sub-index since 2004. Production (59.7) lifted 2.7 points, while employment (55.3) rose to its highest value since October 2014". "Mirroring the overall result, the proportion of positive comments rose to 69.4%, compared with 64.7% in April and 67.2% in March".BNZ Senior Economist, Doug Steel, said "the PMI has now pushed up to its highest level in 16 months, which makes the mild slowdown we saw at the beginning of the year a distant memory".View the Time Series Data Main Indicies Regional Results Doug Steel Senior Economist, BNZ Marvellous MayNew Zealand's Performance of Manufacturing Index (PMI) lifted to a very strong 58.5 in May. This is up from April's 56.9, which was not-too-shabby itself despite some possible drag from the timing of holidays in that month.Read more DemandingManufacturing sales in the first quarter of the year rose strongly, according to official figures released last week. The value of sales was 6.2% higher than the same quarter a year earlier.Read more Help WantedIn keeping with May's strong production indicators and positive forward demand signals, manufacturers are hiring more staff.Read more Aerial View By AreaPMI results can be a bit volatile month-to-month and more so when looked at on a regional basis. Smoothing over 12 month periods can offer some insight into trends.Read more View full BNZ Manufacturing Snapshot PMI Time Series TableThe results are seasonally adjusted. National Indicies May2016Jan2017Feb2017Mar2017Apr2017 May2017 BNZ - BusinessNZ PMI 57.053.155.758.156.958.5 Production60.949.157.860.257.059.7 Employment 52.852.254.553.553.155.3 New Orders60.853.658.963.162.061.2 Finished Stocks48.651.255.653.054.054.7 Deliveries55.253.354.354.354.958.1 View the Time Series Data BNZ - BusinessNZ PMI Time SeriesJuly 2014 – May 2017 International ResultsJ.P. Morgan Global Manufacturing PMITM 1 Jun 201752.6 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 Guides & Tools COVID-19 COVID-19: Essential Service Areas COVID-19: Essential Services List COVID-19: Essential Services QA BNZ - BusinessNZ PMI Time Series Data View seasonally adjusted and unadjusted time series data for the BNZ - BusinessNZ PMI BNZ 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, ExportNZ & ManufacturingNZ 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