New Zealand’s manufacturing expansion moderated in October, with the Business NZ Performance of Manufacturing Index (PMI) easing to 54.9 from 56.5 in September 2026. Despite the slowdown, the latest reading, released on 12 November 2026, keeps the index comfortably above the 50-point threshold that separates expansion from contraction.
The softer October figure suggests growth in the sector remains solid but is losing some pace compared with the previous month. While no breakdown by sub-components was provided, the headline cooling may indicate a more cautious operating environment for manufacturers heading into the final quarter of the year, even as overall activity continues to expand.
