New Zealand manufacturing sector sees 14 months of continuous growth

New Zealand’s manufacturing sector has experienced 14 consecutive months of expansion. According to the BNZ – BusinessNZ Performance of Manufacturing Index (PMI), the index reached 53.1 in August, surpassing the long-term average of 52.5. While slightly lower than July’s 54.3, the three-month average has risen to 55.8, marking its highest level since July 2021.

Small Business and Manufacturing Minister Cameron Brewer noted that growth is spreading across various industry groups, including food and beverage, textiles and clothing, and non-metallic mineral products. All four regions in the country also recorded expansion for the first time since March. New orders rose to 54.9, indicating increased future workloads.

The manufacturing sector is a significant component of the national economy, employing over 220,000 people, contributing approximately 8% to the GDP, and accounting for roughly 60% of New Zealand’s goods exports. Key industry players include Fisher & Paykel Healthcare, which specializes in medical equipment, and Fonterra, a major entity in the dairy industry.