Boost in April – PMI 11 May 2018 58.9April+5.8Monthly Changeexpandingfaster rate Catherine Beard Director, Advocacy BusinessNZ View profile New Zealand's level of manufacturing expansion experienced a boost in April, according to the BNZ - BusinessNZ Performance of Manufacturing Index (PMI).The seasonally adjusted PMI for April was 58.9 (a PMI reading above 50.0 indicates that manufacturing is generally expanding; below 50.0 that it is declining). This was 5.8 points higher than March, and the highest level of expansion since January 2016.BusinessNZ's executive director for manufacturing Catherine Beard said that the sizeable pick up in expansion is welcome, especially given the overall activity results for the past four months."The fact that the sub-indexes of production, new orders and deliveries of raw materials were all around the 60-point mark helped the overall result. Also, the proportion of positive comments in April (58.5%) has continued its upwards trajectory compared with March (55.1%), February (51.4%) and January (50.7%). Those who provided positive comments typically noted a lift in construction, as well as a pick-up in offshore orders." "Although April represents a good result for the sector, the key will be to continue the expansion momentum over the coming months."BNZ Senior Economist, Doug Steel said that "it’s a move from so-so to outright strong. Of course, we wouldn’t want to over interpret one month’s result especially as it may have been, in part, artificially boosted by the timing of Easter. But, in the least, April’s result suggests the economy has not fallen off the rails".View the Time Series Data Main Indicies Regional Results Manufacturing Snapshot Doug Steel Senior Economist, BNZ Boom!The Performance of Manufacturing Index (PMI) looked a bit weak early in 2018, especially in comparison to its hearty pulse through 2017. We thought, at the time, the early-2018 slowdown may prove temporary – a view strongly supported by April’s hefty result.Read more Building UpApril’s PMI strength follows another lurch higher in residential building consents after a period of consolidation at a high level.Read more Primary Processing PlacidIn April, the food, beverage, and tobacco PMI posted its fourth consecutive (unadjusted) monthly reading with a 53 handle. This is a marked slowdown from last year’s average of 61.Read more EmploymentThe PMI employment index has remained solid during the recent slower readings in the likes of production and orders. Indeed, the ongoing firmness in employment has been one factor behind us keeping a generally positive outlook despite the cooling in other areas.Read more View full BNZ Manufacturing Snapshot PMI Time Series TableThe results are seasonally adjusted. National IndiciesApr2017Dec2017Jan2018Feb2018Mar2018Apr2018 BNZ - BusinessNZ PMI 56.451.055.253.453.158.9 Production56.353.554.054.152.759.5 Employment 52.951.652.754.753.454.9 New Orders59.649.855.454.354.360.3 Finished Stocks53.451.953.051.554.355.2 Deliveries54.649.754.952.853.860.5 View the Time Series Data BNZ - BusinessNZ PMI Time Series January 2018 – April 2018 International ResultsJ.P. Morgan Global Manufacturing PMITM 2 May 201853.5 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 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