Key facts
- New Zealand's manufacturing sector activity expanded significantly in June.
- The Performance of Manufacturing Index (PMI) reached 59.7 in June.
- This is the highest level for the PMI since July 2021.
- The expansion is driven by renewed business confidence.
- Stronger sales and order books contributed to the growth.
- The manufacturing sector shows expansion despite ongoing economic pressures.
New Zealand's manufacturing sector demonstrated substantial growth in June, achieving its highest activity level since July 2021. The Performance of Manufacturing Index (PMI) recorded a score of 59.7, signaling a strong expansion. This upward trend is largely fueled by a resurgence in business confidence, which has been positively impacted by improvements in sales and order books. The data suggests a notable strengthening within the manufacturing industry, even as the broader economy continues to face various pressures. The PMI's consistent performance above the 50-point threshold, which indicates expansion, highlights a sustained period of positive momentum for the sector.