BNZ – BusinessNZ
Performance of
Manufacturing
Index

Pumping production – PMI

17 Jun, 2016
57.1
May
+0.5

Monthly Change

expanding
faster rate

New Zealand’s manufacturing sector continued its upwards momentum for May, according to the latest BNZ – BusinessNZ Performance of Manufacturing Index (PMI).

The seasonally adjusted PMI for May was 57.1 (a PMI reading above 50.0 indicates that manufacturing is generally expanding; below 50.0 that it is declining). This was 0.5 points higher than April, and the highest level of expansion since January. The sector has been in expansion in almost all months since October 2012.

BusinessNZ’s executive director for manufacturing Catherine Beard said that the key components to the overall PMI result continued to show strong results.

“Production (61.1) lifted its head above the 60-pint mark for the first time since December 2014, while new orders (59.9) has remained within a tight band range of 2.5 points since November 2015. In addition, the proportion of positive comments rose to 66.4%, with a number of positive comments pointing to business as usual and a steady flow of activity/orders.”

BNZ Senior Economist, Craig Ebert, said that “the production readings in the PMI have certainly kept our chins up, when recent results on manufacturing GDP have looked a bit wobbly.”

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

PMI

New Zealand’s Performance of Manufacturing Index (PMI) firmed a bit further in May, while its details were even more encouraging.

Read more  

Manufacturing GDP

The production readings in the PMI have certainly kept our chins up, when recent results on manufacturing GDP have looked a bit wobbly.

Read more  

Forestry

One of the brighter spots in the Q1 GDP accounts was around forestry. Having had a great run, activity-wise, post GFC the industry struggled a bit over 2015. However, there were signs of renewed life in the March quarter of this year.

Read more  

Australia

All things considered, Australia is still New Zealand’s largest trading partner. And so it’s worth noting that Australia’s economy has been digesting a pronounced correction in mining investment, to be performing relatively well, overall.

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 May
2015
Jan
2016
Feb
2016
Mar
2016
Apr
2016
May
2016
BNZ – BusinessNZ PMI 52.0 57.8 55.9 54.7 56.6 57.1
Production 47.5 59.7 56.5 55.4 58.7 61.1
Employment 50.9 54.3 48.9 49.0 50.0 52.8
New Orders 53.8 59.7 60.5 58.0 59.7 59.9
Finished Stocks 54.9 54.6 56.9 55.2 53.4 48.9
Deliveries 53.7 57.6 56.1 51.8 56.6 55.1

BNZ – BusinessNZ PMI Time Series

May 2018 – May 2022

International Results

J.P. Morgan Global Manufacturing PMITM

01 Jun 2016
50.0

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