Hong Kong: PMI moderates in January
February 3, 2016
The Nikkei Purchasing Managers’ Index (PMI) decreased from December’s 46.4 to 46.1 in January, which marked a four-month low. As a result, the PMI fell further below the 50-threshold that separates contraction from expansion in business conditions.
January’s figure reflected deteriorations in new orders, employment and output, with the latter contracting at the sharpest rate in four months. These poor results were mainly driven by the continuing fall in new business from Mainland China. Nikkei analysts pointed out that, “looking ahead, it is likely that an uncertain global economic outlook and softer growth in China will continue to weigh on the performance of Hong Kong’s private sector.”
Author: Eric Denis , Economist