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Hong Kong PMI January 2024

Hong Kong: Private-sector business conditions stagnate in January

The S&P Global Hong Kong PMI fell to 49.9 in January from 51.3 in December. As a result, the index moved below the 50.0 no-change threshold, and signaled a deterioration in private sector operating conditions compared to the previous month.

In January, declining new business led to stagnation in employment levels. Moreover, new foreign orders—including from mainland China—fell in January. Despite continued output growth, businesses faced supply constraints and rising costs, leading to increased pessimism about the economic outlook.

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