The IHS Markit Hong Kong PMI jumped to 49.6 in June 2020 from 43.9 in the prior month, pointing to a marginal deterioration in the health of the private sector following the easing of COVID-19 restrictions. Output fell at the slowest rate since April 2018 and new orders dropped the least in over two years despite a steep decline in exports. At the same time, buying activity rose for the first time since March 2018 before the US-China trade tensions escalated. Employment was unchanged, while the level of backlogs was depleted at the slowest rate in 16 months. On the price front, overall cost burdens rose as an increase in prices for paid purchases more than offset a fall in staff costs. Firms reduced their selling prices amid reports of discounting to stimulate sales. Finally, business sentiment hit a five-month high.
Manufacturing PMI in Hong Kong averaged 48.35 points from 2011 until 2020, reaching an all time high of 53.30 points in February of 2014 and a record low of 33.10 points in February of 2020. This page provides the latest reported value for - Hong Kong Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Hong Kong Private Sector PMI - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Markit Economics
Manufacturing PMI in Hong Kong is expected to be 50.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Hong Kong to stand at 51.60 in 12 months time. In the long-term, the Hong Kong Private Sector PMI is projected to trend around 51.80 points in 2021, according to our econometric models.