FX.co ★ New Zealand Factory Activity Remains in Expansion

The BusinessNZ Performance of Manufacturing Index (PMI) in New Zealand experienced a slight increase in November, reaching 51.4, a 0.2 point rise from October's figure of 51.2. Analyzing the five key sub-indices reveals that four sectors registered growth: New Orders decreased to 51.9 from 54.5 in October, Production increased to 52.8 from 52.0, Employment improved significantly to 52.4 from 48.3, and Finished Stocks remained in growth territory, though slightly down at 50.5 from 51.3. However, Deliveries of Raw Materials slipped into contraction, falling to 49.0 from 50.3. Despite a reduction in negative sentiment among respondents from 54.1% in October to 45.6% in November, manufacturers noted a seasonal boost in demand due to Christmas activities, favorable economic conditions, and strengthening customer confidence. This data suggests that while the PMI persists above the critical breakeven point of 50, growth remains moderate and uneven across sectors.