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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
New ZealandNew Zealand NZIER Capacity Utilization climbed to 91.3% in October 2024
FMPMonthlyReleased January 2025
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.
Latest Release
91.3
Actual
90
Consensus
89.1
Previous
Median Absolute Error
±2.82 percentage points
across last 6 releases
Last Call
Jan 2025
Predicted: 90
Actual: 91.3
Error: -1.3
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| 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.
THE RELEASE
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%.
WHY IT MATTERS
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%.
THE MODEL'S TAKE
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%.
WHAT TO WATCH NEXT
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.
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NZIER Capacity Utilization - NZ
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About NZIER Capacity Utilization — New Zealand
DEFINITION
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.
WHY THIS INDICATOR MATTERS
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.
WHAT CHANGED THIS MONTH
Latest reading (Oct 2024): actual 91.3 %, consensus 90 %. Prior reading (Jul 2024): 89.1 %. Before that (Apr 2024): 88.7 %.
WHAT'S NEXT
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.