BusinessNZ manufacturing PMI for September,

  • Fourth consecutive increase in expansion levels during September
  • September was the second highest result recorded so far for 2014

All five seasonally adjusted main diffusion indices were in expansion during September:

  • Deliveries (62.4) – highest since July 2013
  • New orders (60.0) rose 1.5 points
  • Production (59.3) dropped 1 point
  • Finished stocks (58.1) recorded its highest value since the survey began in 2002
  • Employment (56.0) rose another 2.0 points

BusinessNZ’s executive director for manufacturing Catherine Beard:

  • “Although the start of 2014 produced some healthy expansion results, activity levels recorded during the middle of the year were at a more moderate pace. The fact that the last two months have shown strong growth bodes well for the manufacturing sector as we enter the last quarter of the year.”

BNZ Senior Economist Craig Ebert:

  • “A falling trend in the NZ dollar will help manufacturers’ export revenue but will also create pressure on import costs and the servicing of any unhedged foreign-currency debt.”