Hong Kong skyline from above

Hong Kong PMI August 2021

Hong Kong: Manufacturing PMI jumps to the highest level in over seven years

The IHS Markit Manufacturing Purchasing Managers’ Index (PMI) increased to 53.3 in August—the best reading since February 2014—after July’s 51.3. As a result, the index moved further above the 50-threshold, and pointed to a faster expansion in business conditions from the previous month.

The stronger reading was predominately due to faster increases in output and new orders relative to the previous month, while employment levels stabilized in August, after declining in May–July. Nevertheless, foreign demand remained weak as Covid-19 restrictions in China weighed on buying activity.

Commenting on the latest reading, Jingyi Pan, economics associate director at IHS Markit, noted:

“Both demand and output growth accelerated to multi-year highs, aided by the increase in economic and consumer confidence and supported by recent measures such as the distribution of the consumption vouchers. The overall outlook also improved noticeably amongst Hong Kong SAR private sector firms in August.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest