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.”
Author: Eric Denis , Economist