Manufacturing sales in New Zealand plunged 12.1 percent year-on-year during the second quarter of 2020, after declining 1.9 percent in the previous period. It was the biggest fall on record, amid lockdown restrictions due to the coronavirus pandemic. Petroleum & coal products fell the most, plunging 33.5 percent, dragged by lower fuel demand, followed by metal products (-22.1 percent) amid a drop in international prices and weak demand for aluminum and steel. Also, sales of transport equipment, machinery and equipment manufacturing slumped 13.6 percent. On a seasonally adjusted quarterly basis, manufacturing sales tumbled 12.2 percent, following a 1.8 percent decline in the prior period. source: Statistics New Zealand
Industrial Production in New Zealand averaged 1.31 percent from 1995 until 2020, reaching an all time high of 17.60 percent in the second quarter of 1995 and a record low of -12.10 percent in the second quarter of 2020. This page provides - New Zealand Manufacturing Production - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Manufacturing Sales - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
Industrial Production in New Zealand is expected to be -6.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in New Zealand to stand at 8.30 in 12 months time. In the long-term, the New Zealand Manufacturing Sales is projected to trend around 2.50 percent in 2021 and 3.40 percent in 2022, according to our econometric models.