The IHS Markit Hong Kong PMI rose to 47.8 in January 2021 from an eight-month low of 43.5 in December, signaling a moderation in the rate of deterioration after the heavy hit from the reintroduction of COVID-19 restrictions. Both output and new orders fell at softer paces, though in both cases the downturns were the second-steepest since August. At the same time, exports fell sharply, with sales from the mainland dropping further. Also, buying levels sank to a degree not seen since August, amid symptom of growing supply problems. Employment shrank fractionally, but in most cases, headcounts were kept steady. Meantime, suppliers’ delivery times lengthened the most since the survey began in 1998. As for prices, input cost inflation hit its highest in 2-1/2 years, on rising raw material costs and increased shipping fees. Output prices fell faster, however, amid tough competition and weak sales that led many firms to offer discounts. Finally, sentiment remained negative. source: Markit Economics
Manufacturing PMI in Hong Kong averaged 48.25 points from 2011 until 2021, 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 February of 2021.
Manufacturing PMI in Hong Kong is expected to be 51.00 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 52.00 in 12 months time. In the long-term, the Hong Kong Private Sector PMI is projected to trend around 52.00 points in 2022 and 51.80 points in 2023, according to our econometric models.