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.