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New Zealand NZIER Capacity Utilization climbed to 91.3% in October 2024, released January 2025, up 2.2% from September's 89.1% reading. The reading matched the 90.0% consensus. NZIER Capacity Utilization has now risen for 3 consecutive months. NZIER Capacity Utilization is now the highest in 9 months.
across last 6 releases
Jan 2025
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| NZD/USD | ▲ Direct | +0.55 | FOREX | Bullish NZD | → View |
| NZD/JPY | ▲ Direct | +0.45 | FOREX | Bullish NZD | → View |
| AUD/NZD | ▼ Inverse | −0.40 | FOREX | Bearish AUD | → View |
| EUR/NZD | ▼ Inverse | −0.35 | FOREX | Bullish NZD | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
NZIER Capacity Utilization (New Zealand) was reported at 91.3% in January 2025. This beat the market consensus of 90% by 1.3%. The reading rose from the previous value of 89.1%.
The indicator has been trending upward over the last three releases. The trailing three releases averaged 89.7%, up from the prior three at 89.63%.
Historically, this indicator is positively correlated with NZD/USD (Bullish NZD). A secondary relationship exists with NZD/JPY, positively correlated (Bullish NZD). Over the last 6 releases, the Sigmacast model's median absolute error is 2.83%.
Same-country events in the next 14 days include RBNZ Interest Rate Decision (May 27) and Monetary Policy Statement (May 27).
Auto-generated from current model state · Refreshes on each release · Last update January 2025.
NZIER Capacity Utilization is a key economic indicator that measures the percentage of a country's total production capacity that is being utilized. It provides valuable insights into the overall health and efficiency of an economy, as well as the potential for future growth. A high capacity utilization rate indicates a strong and productive economy, while a low rate may suggest underutilized resources and potential for improvement. This indicator is closely monitored by policymakers, businesses, and investors as it can impact inflation, employment, and overall economic performance.
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
Latest reading (Oct 2024): actual 91.3 %, consensus 90 %. Prior reading (Jul 2024): 89.1 %. Before that (Apr 2024): 88.7 %.
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with NZD/USD (Bullish NZD, r=0.55) — a useful reference for forex-focused traders.
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| Wednesday, May 27, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 02:00 | RBNZ Interest Rate Decision | 2.25 | 2.25 | 2.25 | Medium | ||
| Thursday, May 28, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 01:00 | ANZ Business Confidence | -10.6 | -8 | -11.90 | Medium | ||
| 22:00 | ANZ Roy Morgan Consumer Confidence | 80.3 | 81.5 | 81.50 | Low | ||
| Friday, May 29, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 01:00 | ANZ Business Confidence | -10.6 | -8 | -11.90 | Medium | ||