The BusinessNZ Performance of Manufacturing Index in New Zealand increased to 54 September 2020 from an upwardly revised 51 in the previous month, amid the easing of coronavirus lockdown measures. All but one of the key sub-indices improved in September, of which new orders (58.1 vs 54.2 in August) and production (56.5 vs 51.6) expanded further. Additionally, employment returned to growth (51.6 vs 49.2). In contrast, deliveries fell into contraction territory (49 vs 50). “Although the September PMI pushed above its long-term average of 53.0, it should not be confused with above average activity levels. Rather, it indicates growth off the low base set earlier in the year. Growth has not yet been enough to recoup previous loses, but some progress is being made", said BNZ Senior Economist, Doug Steel.
Manufacturing PMI in New Zealand averaged 53.02 points from 2002 until 2020, reaching an all time high of 62.80 points in June of 2004 and a record low of 26.10 points in April of 2020. This page provides - New Zealand Manufacturing Pmi - actual values, historical data, forecast, chart, statistics, economic calendar and news. New Zealand Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Business New Zealand
Manufacturing PMI in New Zealand is expected to be 51.70 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in New Zealand to stand at 53.00 in 12 months time. In the long-term, the New Zealand Manufacturing PMI is projected to trend around 53.00 points in 2021 and 52.50 points in 2022, according to our econometric models.