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.

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Hong Kong Private Sector PMI

Actual Previous Highest Lowest Dates Unit Frequency
49.60 43.90 53.30 33.10 2011 - 2020 points Monthly
SA


News Stream
Hong Kong Business Conditions Near Stabilization in June
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.
2020-07-06
Hong Kong Private Sector PMI at 4-Month High
The IHS Markit Hong Kong PMI increased to 43.9 in May 2020 from 36.9 in the previous month, as parts of the economy reopened after some containment measures were relaxed. Output and new orders declined further in May, but the rate of contraction was the softest since January. In particular, the degree to which orders from mainland China fell was the smallest in a year, and considerably slower than seen in recent months. Also, the rates of decrease in employment, purchasing activity and inventories were the softest since January. On the price front, input costs were broadly unchanged as a fall in staff costs was offset by a rise in paid prices for inputs, namely freight services and input materials such as gold and electronic components. Finally, sentiment remained negative but it improved to a four-month high, despite uncertainty over the longer-term impact of the pandemic.
2020-06-03
Hong Kong Private Sector Continues to Shrink
The IHS Markit Hong Kong PMI increased to 36.9 in April 2020 from 34.9 in the previous month, as restrictions imposed to contain the spread of the COVID-19 outbreak led to output and sales falling severely. Also, new business from abroad collapsed, with a further sharp contraction of orders from China. Employment continued to shrink at a marked rate, while firms cut back furiously on their purchasing activity. Vendor deliveries were still severely affected by supply chain distortions. On the price front, deflationary pressures persisted, with falling business costs linked to cheaper input prices and reduced wage bills. Finally, sentiment remained deeply negative as majority of firms were pessimistic about a recovery over the next 12 months.
2020-05-06
Hong Kong Private Sector Shrinks at Softer Pace
The IHS Markit Hong Kong PMI increased to 34.9 in March 2020 from a record low of 33.1 in the previous month. The latest reading signaled the second-sharpest deterioration of private sector conditions since the survey started in July 1998. Both output and new orders plunged further amid the Covid-19 crisis. Meanwhile, the pace of job shedding eased from February, but was still sharp, while backlogs of work fell at a record pace. Supply chains remained under great pressure, with delivery times lengthening the most in the survey history. On the price front, overall input costs fell for a fifth straight month during March and at one of the fastest rates since the global financial crisis. At the same time, firms offered price discounts in an effort to boost sales, with output charges falling further in March.
2020-04-03

Hong Kong Private Sector PMI
The Nikkei Hong Kong Purchasing Managers’ Index measures the performance of the private sector and is derived from a survey of 300 companies. The Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the private sector activity compared to the previous month; below 50 represents a contraction; while 50 indicates no change.