The seasonally adjusted BusinessNZ Performance of Composite Index in New Zealand rose to 50.2 in October 2025 from a marginally revised 49.1 in the previous month, marking the highest reading since July. Manufacturing activity expanded for the fourth consecutive month, the second time this has occurred in three years, while the service sector shrank for the 20th straight month. Total output grew for the first time in three months, supported by a fifth consecutive monthly rise in new orders. Employment declines slowed, inventories fell after increasing in September, and deliveries remained largely unchanged.