New Zealand’s BusinessNZ Performance of Manufacturing Index climbed to 56.5 in September 2026 from 53.2 in August, indicating a stronger expansion in manufacturing activity. Employment remained the softest sub-index at 51.8, but it stayed in expansionary territory and improved from 50 in August. The strongest gains came from Finished Stocks (59) and Deliveries (58.8), while both Production and New Orders advanced to 57.
Despite the more robust headline result, sentiment was still mixed, with 53% of respondents’ comments classified as negative. Participants continued to highlight elevated fuel costs and uncertainty in the lead-up to the election. However, some reported support from seasonal patterns, pre-Christmas ordering, and gradually improving demand. Overall, the solid readings in New Orders, Production, and Finished Stocks indicate that manufacturing momentum is building as the economy enters the final quarter of the year.
