New Zealand’s manufacturing sector saw a modest loss of momentum at the start of 2026, with the Business NZ Performance of Manufacturing Index (PMI) easing to 55.2 in January 2026 from 56.1 in December 2025. The latest reading, updated on 12 February 2026, indicates that while the pace of expansion has slowed, the sector remains in growth territory.
A PMI above 50 points to expansion in manufacturing activity, suggesting that New Zealand’s factories continued to grow in January, albeit at a slightly softer pace than at the end of last year. The marginal decline from December underscores a cooling, rather than a reversal, of the prior strength in the sector.
The January figure will be closely watched by businesses and investors for signs of whether the manufacturing upswing can be sustained in the coming months, as the sector navigates evolving domestic and global economic conditions.
