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The Performance of Manufacturing Index is a monthly survey of the manufacturing sector providing an early indicator of activity levels. It is produced by Business NZ, and sponsored by BNZ, who also provide expert commentary.
A PMI reading above 50 points indicates manufacturing activity is expanding; below 50 indicates it is contracting.
The methodology of this series is based on the that developed by The Institute for Supply Management in the USA who have been doing their survey since 1931. Similar, consistent versions are published in many countries. Because of the background and technical methodology, this data is a highly regarded basis for assessing the state of manufacturing. A companion series, PSI (Performance of Service Index) is also published for New Zealand, and a separate chart series is in our gallery.
Note: "Given the events of 22 February 2011 in Christchurch, BNZ and BusinessNZ decided not to run the February PMI. To compensate for the missing data for that month, the values for March have also been applied to February, with standard seasonal adjustment taking place."