Manufacturing in New Zealand Rebounds in January
(Sydney) - New Zealand's manufacturing sector has experienced expansion for the first time in nearly two years, according to a survey released on Friday.
The Bank of New Zealand-Business NZ Performance of Manufacturing Index (PMI) surged to 51.4 in January, up from 46.2 in December. New orders also increased to 50.9 from 46.8 in the previous month.
Readings above 50 indicate expansion, while below 50 signal contraction.
"This is a positive start to 2025," said Doug Steel, BNZ Senior Economist. "The manufacturing sector is shifting into first gear after a period of decline."
The positive sub-index results for production and new orders suggest a renewed momentum in the industry.