Hong Kong PMI

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Hong Kong: PMI increases in June; remains in negative territory

July 6, 2015

The HSBC Purchasing Managers’ Index (PMI) increased from 47.6 in April to 49.2 in June. As a result, the PMI is closer to the 50-threshold that separates contraction from expansion in business conditions. The reading marked the highest level in three months.

June’s result came on the back of softer drops in output and new orders, which more than offset faster decreases in employment and purchasing activities. HSBC analysts pointed out that, “demand from Mainland China remained a drag on overall growth in new work, with new business from the region continuing to fall sharply. Furthermore, employment and purchasing activity both fell at stronger rates at the end of Q2, suggesting that companies have relatively muted growth expectations at least in the near term.”

FocusEconomics Consensus Forecast panelists see fixed investment rising 3.7% in 2015, which is down 0.5 percentage points from the previous month’s estimate. For 2016, the panel expects fixed investment to increase 3.9%.


Author:, Economist

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Hong Kong PMI June 2015

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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