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

The IHS Markit Hong Kong PMI unexpectedly was up to 46.8 in January 2020 from 42.1 in the prior month to beat market consensus of 45.2. This was the 22nd straight month of contraction in the private sector but the softest fall in five months. Declines in output and new orders eased but remained sharp, while employment stabilised. According to panel participants, political issues and trade disputes continued to restrict exports. "It was also encouraging to see that some companies refrained from cutting jobs, which led to a stabilisation of private sector employment,” said Pollyanna De Lima, Principal Economist at IHS Markit.

The IHS Markit Hong Kong PMI unexpectedly was up to 42.1 in December 2019 from over 13-1/2-year low of 38.5 in the prior month and beating market consensus of 36.5. This was the 21st straight month of contraction in the private sector but the slowest since July. Both output and new orders shrank at softer rates but remain sharp, amid the ongoing political unrest. Firms cut back further on purchasing activity and inventories. While the rates of reduction in both measures eased from November's records, they remained steep. At the same time, new sales from mainland China fell for a 20th month in a row and at one of the fastest rates since this question was added to the survey in March 2005. Employment meanwhile was largely stagnant. On the price front, input prices dropped the most in nearly four years, while selling prices was reduced for a sixth straight month. Finally, sentiment was downbeat, remaining at its lowest since data on this variable were first available in April 2012.

The IHS Markit Hong Kong PMI fell to 38.5 in November 2019 from 39.3 in October. The reading pointed to the sharpest contraction in the private sector since the SARS epidemic in April 2003, on the back of political unrest and impact of trade tensions. Business activity fell at the steepest pace on record and new orders declined at the quickest rate since November 2008. New orders from mainland China dropped for the 19th consecutive month and at one of the fastest rates since series began. Also, backlogs of work continued to fall and the job creation rate fell marginally. Firms continued to scale back their purchasing activity and input inventories, reducing both at an all-time record rate. On the price front, input costs declined, dragged down by the first fall in staff costs for over three years and output prices went down for the 5th straight month. Finally, sentiment remained among its lowest level since survey began amid a political crisis and weak global trade conditions.

The IHS Markit Hong Kong PMI fell to lowest on the record of 39.3 in October 2019 from 41.5 in September on the back of political unrest and impact of trade tensions. New orders fell the most since January 2009, led by a record decline in new orders from mainland China. As a result, backlogs of work declined further and at a marked pace. Companies also cut back on purchasing activity and input inventories at the fastest rate in the survey history. Meanwhile, employment grew for the first time in three months, though the rate of job creation was marginal. In terms of inflation, input prices rose for the first time in four months, albeit only modestly. On the contrary, output prices were reduced for a fourth straight month, amid eforts to boost sales via price discounts. Looking ahead, sentiment weakened.