Hong Kong PMI

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Hong Kong: Business conditions deteriorate to lowest level in nearly a year in May

June 5, 2014

The HSBC Purchasing Managers Index (PMI) fell from 49.7 in April to 49.1 in May. May’s print represented the lowest level since June 2013. The PMI is resting just below the 50-threshold that separates expansion from contraction in business conditions.

According to HSBC, May’s figure mainly reflected a broad-based deterioration, with both output and new business contracting in May. New business from Mainland China recorded a significant fall, thus suggesting that, “the slowdown in Mainland China is now feeding through to Hong Kong.” In addition, businesses reduced staffing for the second consecutive month.

FocusEconomics Consensus Forecast panelists see fixed investment rising 5.1% in 2014, which is unchanged from the previous month’s estimate. For 2015, the panel expects fixed investment to increase 4.6%.

Author: Ricard Torné, Lead Economist

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Hong Kong PMI Chart

Hong Kong PMI May 2014

Note: HSBC Hong Kong Purchasing Managers’ Index (PMI). A reading above 50 indicates an expansion in business activity while a value below 50 points to a contraction.
Source: HSBC and Markit.

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