New Zealand’s BNZ Manufacturing PMI fell to a four-month low of 53.1 in January 2019 from a downwardly revised 54.8 in the previous month. New orders decreased to 52.2 from 55.2 in December, declining its level of expansion for the third month and hitting a 13-month low. "Looking beyond the steady headline reading, the details of this month's survey do raise some questions about the durability and pace of the current expansion,” said BNZ Senior Economist, Doug Steel. Manufacturing PMI in New Zealand averaged 53.41 from 2002 until 2019, reaching an all time high of 62.80 in June of 2004 and a record low of 36.10 in November of 2008.
Manufacturing PMI in New Zealand is expected to be 53.10 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 54.00 in 2020, according to our econometric models.