The BusinessNZ Performance of Manufacturing Index in New Zealand jumped to 58.8 in July 2020 from a downwardly revised 56.2 in June, amid the easing of coronavirus lockdown measures. Three subindices improved, one softened its expansion pace and other fell further into contraction. Production jumped to 61.4 from 58.4, while new orders surged to 67.4 from 58.2. In contrast, employment fell to 46.5 from 48.5. “This is obviously a welcome outcome given the halt in any activity for many over lockdown. However, we should be careful not to interpret this as a new dawn for the sector, rather a catch-up for many trying to get back to a new sense of normality,” said BNZ's executive director for manufacturing Catherine Beard.
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 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 August of 2020. source: Business New Zealand
Manufacturing PMI in New Zealand is expected to be 55.00 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 52.00 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.