BNZ – BusinessNZ
Performance of
Manufacturing
Index

Ending on a high note – PMI

21 Jan, 2016
56.7
December
+1.8

Monthly Change

expanding
faster rate

New Zealand’s manufacturing sector recorded its highest month of expansion for 2015 in December, according to the latest BNZ – BusinessNZ Performance of Manufacturing Index (PMI).

The seasonally adjusted PMI for December was 56.7 (a PMI reading above 50.0 indicates that manufacturing is generally expanding; below 50.0 that it is declining).  This was 1.8 points higher than November, and the highest level of expansion since October 2014.  The sector has now been in continued expansion since October 2012.

BusinessNZ’s executive director for manufacturing Catherine Beard said that the December result was an encouraging way to end the year.

“Overall, it has been a solid and positive year for the sector.  Although the PMI averaged 54.2 over 2015 compared with 56.0 for both 2013 and 2014, the slightly lower expansion level was partly due to the first half of 2015 experiencing a moderate patch of growth.  However, results over the last few months have seen the sector in stronger expansion.    

BNZ Senior Economist Craig Ebert said “as well as for its outright strength, New Zealand’s PMI remains notable for the way it keeps defying the struggle that global manufacturing continues to undergo”.

Catherine Beard

Catherine Beard

Director, Advocacy BusinessNZ

BNZ - BusinessNZ PMI

Time Series Data

View seasonally adjusted and unadjusted time series data for the BNZ - BusinessNZ PMI

Manufacturing Snapshot

The PMI

The Performance of Manufacturing Index (PMI) increased to a 14-month high in December. This is a good sign for upcoming output, which is already running robustly in the PMI.
Read more  

Q3 Activity

Having been a drag on GDP over the first half of 2015, NZ manufacturing activity re-bounded very well in the September quarter of 2015. A 2.8%bounce, in fact.
Read more  

QSBO comparisons

The month to month results of the PMI have  been a good pointer to the manufacturing component of the latest Quarterly Survey of Business Opinion. While manufacturers in the QSBO registered a net negative sentiment  in Q3it reclaimed positive territory through Q4.
Read more  

Exchange rate

It’s always difficult to know what’s driving New Zealand’s manufacturing industry at any point in time. However, it seems fair to say that there is always good leverage off the construction industry.
Read more .

Craig Ebert

Craig Ebert

Senior Economist, BNZ

Sponsor Statement

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.

PMI Time Series Table

The results are seasonally adjusted.

National Indicies Dec
2014
Aug
2015
Sep
2015
Oct
2015
Nov
2015
Dec
2015
BNZ – BusinessNZ PMI 56.4 54.9 55.0 53.3 54.9 56.7
Production 60.4 55.5 57.2 53.4 53.9 56.1
Employment 49.6 53.0 51.2 52.7 53.8 53.0
New Orders 59.4 57.2 57.5 56.0 58.1 59.7
Finished Stocks 49.9 52.7 52.5 49.4 50.1 54.1
Deliveries 56.2 53.0 55.6 52.8 55.0 57.4

BNZ – BusinessNZ PMI Time Series

December 2018 – December 2022

International Results

J.P. Morgan Global Manufacturing PMITM

04 Jan 2016
50.9

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.

PMI Releases

Building blocks – PMI

New Zealand's manufacturing sector saw another lift in expansion for August, according to the latest BNZ - BusinessNZ Performance of Manufacturing Index (PMI). The seasonally adjusted PMI for August was 54.9 (a PMI reading above 50.0 indicates that manufacturing is...

On the margins – PMI

New Zealand's manufacturing sector rose back into expansion for July, according to the latest BNZ - BusinessNZ Performance of Manufacturing Index (PMI).The seasonally adjusted PMI for July was 52.7 (a PMI reading above 50.0 indicates that manufacturing is generally...

Mid year blues – PMI

New Zealand’s manufacturing sector fell back into contraction for the first time since the most recent national lock-down in August 2021, according to the latest BNZ – BusinessNZ Performance of Manufacturing Index (PMI).

Soldering on – PMI

New Zealand’s manufacturing sector remained under its long-term average level of activity for May, according to the latest BNZ – BusinessNZ Performance of Manufacturing Index (PMI).

Slow grind – PMI

New Zealand’s manufacturing sector experienced a lower level of expansion during April, according to the latest BNZ – BusinessNZ Performance of Manufacturing Index (PMI).

Our Contributors

The BNZ – BusinessNZ PMI contains data obtained through BusinessNZ’s regional organisations