PMI expands in October, employment still strong

Fri, 12 Nov 2021

New Zealand’s manufacturing sector continued to expand in October, according to the latest BNZ-BusinessNZ Performance of Manufacturing Index.The seasonally adjusted PMI for October was 54.3, up 2.7 points from September.“Even though October’s reading is above average, we’d classify it more in the realm of some recovery from a large hit rather than an indication of outright strength,” said BNZ senior economist Doug Steel. In August the PMI fell to 39.7. Importantly, the PMI production index lifted to 54.0 in Oc...

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