FX.co ★ New Zealand Composite PMI Returns to Expansion

In December 2025, New Zealand's BusinessNZ Performance of Composite Index, once adjusted for seasonality, increased to 53.7 from November's 48.8, signaling a return to an expansionary phase. The services sector saw its most significant growth in six months, buoyed by the seasonal uptick in demand during Christmas and summer, alongside improving consumer confidence. This confidence was bolstered by lower interest rates, a surge in tourism, new contracts, bookings, and early indications of a wider economic recovery and investment resurgence. Conversely, manufacturing activity continued its expansion for the fifth consecutive month. While total output experienced growth, employment figures remained lukewarm. Nevertheless, new orders kept on an upward trajectory, and supplier delivery times showed slight improvement, although they still fell short of reaching a breakeven threshold.