Hong Kong Private Sector PMI2011-2020 Data | 2021-2022 Forecast | Calendar

The IHS Markit Hong Kong PMI rose to 49.8 in October 2020 from 47.7 a month earlier. This was the highest reading since March 2018, as some of the COVID-19 pandemic restrictions were relaxed. Output fell the least in over 2-1/2 years and new orders shrank at the softest pace in four-month, with demand from mainland China falling the least in the current 30-month sequence of decline. Meantime, employment fell back into decline, amid reports of redundancies. Firms continued to scale back buying activity in response to weak demand. Consequently, stocks of purchases fell further, though at the weakest rate since June. Pressure on supplier capacity persisted, as indicated by a further sharp increase in delivery times. On the price front, overall input prices rose for the first time since June while output charges fell further. Finally, sentiment remained negative, though the degree of pessimism was the weakest since June 2019.

The IHS Markit Hong Kong PMI rose to 47.7 in September of 2020 from 44.0 a month earlier, as some of the COVID-19 pandemic restrictions were relaxed. This was the highest reading since June, with output dropping the least in three months. Also, new orders contracted at the softest pace since June, partially linked to a continued decline in export sales, including from mainland China. At the same time, the decrease in input buying was much slower than in the previous two months and was modest. Meanwhile, employment grew the most in 6-1/2 years, amid a further depletion of backlogs. Supply chains remained under pressure as limited freight capacity reportedly contributed to delivery delays. On the price front, input prices stabilized, with paid prices for inputs and wage costs broadly unchanged. Output charges fell further, though at the slowest rate since July 2019. Finally, sentiment remained negative, but the degree of pessimism was the least in over a year.

The IHS Markit Hong Kong PMI fell to 44.0 in August of 2020 from 44.5 a month earlier, amid stricter COVID-19 rules, which adversely impacted the private sector. Both output and new orders declined at sharper rates, while new sales from abroad, including mainland China, fell substantially. Also, firms consequently scaled back purchasing activity and reduced inventories due to an uncertain economic outlook. Meantime, the employment levels remained broadly stable, while the level of backlogs fell further as spare capacity persisted. Survey data pointed average lead times lengthened to the greatest extent for four months. Prices data showed overall input prices were broadly unchanged, with selling prices falling further as part of efforts to stimulate sale. Finally, sentiment remained severely pessimistic.

The IHS Markit Hong Kong PMI plunged to 44.5 in July 2020 from 49.6 in the prior month, amid a tightening of containment measures due to a rise in new COVID-19 infections. Output, new orders and new export orders all fell at faster paces. Also, purchasing activity was cut severely, dropping at a rate comparable to those during the height of the lockdown measures earlier in the year. Meanwhile, employment remained broadly unchanged, as was the case in June, though the level of backlogs fell further. Prices data showed input prices dropped after a marginal increase in June. Output charges fell for a thirteenth straight month, and at a marked pace that was the fastest since April. Finally, sentiment weakened, aid a resurgence of virus cases and its associated impact on economic activity.