Producing the goods – PMI 15 Sep 2017 57.9August+2.4Monthly Changeexpandingfaster rate Catherine Beard Director, Advocacy BusinessNZ View profile New Zealand's manufacturing sector experienced increased expansion levels during August, according to the BNZ - BusinessNZ Performance of Manufacturing Index (PMI). The seasonally adjusted PMI for August was 57.9 (a PMI reading above 50.0 indicates that manufacturing is generally expanding; below 50.0 that it is declining). This was 2.4 points higher than July, and close to expansion levels seen in May. Overall, the sector has remained in expansion in all months since October 2012.BusinessNZ's executive director for manufacturing Catherine Beard said that the pick-up in expansion levels was good to see after consecutive months of lower expansion. "Expansion was was higher for three of the five sub-indices, with production (60.3) at its highest level since September 2016. Employment (56.7) also went from strength to strength, with its highest result since September 2014". "With expansion improving during August, the proportion of positive comments increased to 65%, which was well up on the 56.1% recorded in July, although still lower than 68.2% in June. In terms of specific comments, there were a number who outlined increased orders from Australia, while various negative comments mentioned uncertainty around the upcoming election".BNZ Senior Economist, Craig Ebert, said that "while the election polls are equivocal, the PMI is nothing of the sort. It picked up to a perky 57.9 in August, which puts it even further above its long-term average of 53.3".View the Time Series Data Main Indicies Regional Results Manufacturing Snapshot Craig Ebert Senior Economist, BNZ The PMIWhile the election polls are equivocal, the Performance of Manufacturing Index (PMI) is nothing of the sort. It picked up to a perky 57.9 in August, after a reading of 55.5 in July.Read more EmploymentThe employment index of the PMI, not to be overlooked, rocked on at 56.7 in August, from 56.5. For a series that has averaged 50.6 since inception (August 2002) these are fair booming results.Read more Manufacturing SalesThe Economic Survey of Manufacturing showed a 1.0% increase in sales volumes in the June quarter of 2017, seasonally adjusted. When we number-crunch this along with the accompanying inventory data, we get the impression that production in the sector expanded about 1.0% as well.Read more GlobalWhile the NZ PMI remains a (positive) standout on the international stage, manufacturing activity around the world, to be sure, is picking up.Read more View full BNZ Manufacturing Snapshot PMI Time Series TableThe results are seasonally adjusted. National Indicies Aug2016Apr2017May2017Jun2017Jul2017 Aug2017 BNZ - BusinessNZ PMI 54.656.758.156.055.557.9 Production55.756.959.457.956.260.3 Employment 46.653.355.449.056.556.7 New Orders58.061.660.358.155.558.4 Finished Stocks52.353.955.053.955.952.8 Deliveries56.454.958.056.956.456.0 View the Time Series Data BNZ - BusinessNZ PMI Time Series January 2018 – August 2017 International ResultsJ.P. Morgan Global Manufacturing PMITM 1 Sep 201753.1 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