Hong Kong PMI March 2016

Hong Kong

Hong Kong: PMI decreases in March

April 6, 2016

The Nikkei Purchasing Managers’ Index (PMI) released by Markit decreased from February’s 46.4 to 45.5 in March. As a result, the PMI remained below the 50-threshold that separates contraction from expansion in business conditions and reached a seven-month low.

March’s figure reflected a faster deterioration in output and new business. In addition, the decline stemmed from persisting destocking activities, fewer new orders and declining staff numbers. According to Markit, the drop was driven by weak demand from China and the strong Hong Kong dollar. The experts from Markit also expect the outlook to remain gloomy should global momentum not pick up and the implementation of further policy measures not occur.

FocusEconomics Consensus Forecast panelists see fixed investment rising 1.4% in 2016, which is down 1.2 percentage points from last month’s estimate. For 2017, the panel expects fixed investment to increase 2.8%.

Author: Marlène Rump, Senior Data Analyst

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Hong Kong PMI Chart

Hong Kong PMI March 2016

Note: Nikkei 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: Nikkei and Markit.

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