Hong Kong: PMI moderates slightly in September
The IHS Markit Purchasing Managers’ Index (PMI) fell to 51.7 in September from August’s 53.3. Consequently, the index remained above the 50-threshold, but pointed to a moderating improvement in business conditions from the previous month.
The weaker reading mainly reflected a softer increase in new orders in September relative to the previous month, as foreign demand fell due to weaker purchasing activity from China. Moreover, employment levels were virtually stable in September, while suppliers’ delivery times lengthened. On the price front, input prices increased at one of the quickest paces in a decade, while output prices also rose.