Hong Kong PMI March 2017

Hong Kong

Hong Kong: PMI rises in March, remains in contractionary territory

April 6, 2017

The Nikkei Hong Kong Purchasing Managers’ Index (PMI) released by IHS Markit inched up to 49.9 in March from 49.6 in February, edging more closely to the 50-point threshold that separates contraction from expansion in the business environment but remaining in contractionary territory for another month.

The reading indicated broadly stagnant operating conditions in March, and the increase was largely due to the first output growth recorded in two years and an increase in purchasing activity. However, holding the index below the 50-point threshold was a fall in total new business and a fall in the amount of outstanding work due by firms. While salaries rose in March, firms reduced selling prices for a second month. Moreover, expectations for the level of output in the coming year remained downbeat.

FocusEconomics Consensus Forecast panelists see fixed investment increasing 2.1% in 2017, which is unchanged from last month’s estimate. For 2018, the panel also expects fixed investment to reach 2.1%.

Author:, Economist

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Hong Kong PMI Chart

Hong Kong PMI March 2017 0

Note: Nikkei 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: Nikkei and IHS Markit.

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