Hong Kong: PMI creeps back into positive territory in June
July 4, 2014
The HSBC Purchasing Managers Index (PMI) rose from 49.1 in May to 50.1 in June. June’s print represented the highest level in four months. As a result of the monthly improvement, the PMI now rests just above the 50-threshold that separates expansion from contraction in business conditions.
June’s figure suggests that business conditions stabilized, mainly due to an improvement in total new orders and employment. In addition, inventories increased at the fastest pace since January 2013. While the PMI jumped back to expansion mode, HSBC analysts pointed out that, “the decline in new business from Mainland China remains acute, and could limit some of the upside to growth in Q3."