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New Zealand manufacturing activity expands for first time in two years, survey shows

BY Reuters | ECONOMIC | 02/13/25 04:38 PM EST

SYDNEY (Reuters) - Manufacturing activity in New Zealand expanded for the first time in nearly two years, with key sub-index results for both production and new orders in positive territory, a survey showed on Friday.

The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index (PMI) jumped to 51.4 in January from a revised 46.2 in December. New orders rose to 50.9 from 46.8 in the prior month.

A reading above 50 indicates manufacturing activity is expanding, while anything below that threshold points to contraction.

"It's a positive start to 2025, with the manufacturing sector shifting out of reverse and into first gear," BNZ Senior Economist Doug Steel said in a statement.

(Reporting by Renju Jose in Sydney)

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