Hong Kong PMI July 2021

Hong Kong

Hong Kong: Manufacturing PMI dips marginally in July

August 4, 2021

The IHS Markit Manufacturing Purchasing Managers' Index (PMI) fell to 51.3 in July from June's 51.4. As a result, the index remained above the 50-threshold, but pointed to a moderating improvement in business conditions from the previous month.

The slight moderation was predominately due to falling employment levels due to rising wage costs. Nevertheless, output and new orders were relatively unchanged accelerating slightly over the previous month.

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

“Demand and output growth accelerated, which had been positive signs, although foreign demand appeared to have softened once again as COVID-19 disruptions remained a prevalent issue abroad. Price pressures also persisted for Hong Kong SAR private sector firms.”

FocusEconomics panelists forecast fixed investment to rebound 7.4% in 2021, which is from last month’s forecast. Moving to 2022, the panel sees fixed investment growing 5.7%.

Author:, Economist

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Hong Kong PMI Chart

Hong Kong PMI July 2021

Note: IHS Markit Hong Kong SAR Purchasing Manager’s Index (PMI). Readings above 50 indicate an overall increase compared to the previous month, and below 50 an overall decrease.
Source: IHS Markit.

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