12.03.202621:34:43UTC+00New Zealand Factory Activity Expands for 3rd Month

New Zealand’s BusinessNZ Performance of Manufacturing Index (PMI) registered 55.0 in February, edging down slightly from 55.1 in January. This marks the first time since mid‑2021 that the index has held at 55.0 or above for three consecutive months, indicating a period of sustained expansion in the manufacturing sector.

All five sub‑indexes remained in expansion territory. New Orders led the way at 57.6, followed by Production at 56.7, while Employment softened to 50.4, just above the expansion threshold.

Business sentiment also strengthened: 55.5% of manufacturers reported positive conditions, up from 47.7% in January, though still below December’s 57.1%. The improvement in activity was supported by higher order volumes, increased enquiries, and stronger sales, including improved export demand and more favorable conditions in several subsectors.

Additional support came from a growing pipeline of work, a gradual lift in overall business confidence, and generally stable activity levels across the industry.