Business confidence in Hong Kong improved slightly to -8 in the third quarter of 2025 from -9 in the previous quarter. The share of respondents expecting business conditions to improve edged up to 10% (vs 9% in Q2), while those anticipating worse conditions remained unchanged at 18%. Confidence strengthened for financing and insurance (11 vs 8 in Q2) and turned positive for real estate (3 vs -11). Sentiment also improved—though remained negative—for manufacturing (-2 vs -20), import/export trade and wholesale (-18 vs -19), accommodation and food services (-16 vs -37), and information and communications (-9 vs -17). In contrast, sentiment deteriorated further for construction (-22 vs -16), transportation, storage and courier services (-31 vs -25), and professional and business services (-14 vs -6). Meanwhile, confidence in retail slipped into negative territory at -14, down from 4 in the previous quarter. source: Census and Statistics Department, Hong Kong

Business Confidence in Hong Kong increased to -8 points in the third quarter of 2025 from -9 points in the second quarter of 2025. Business Confidence in Hong Kong averaged 3.67 points from 2006 until 2025, reaching an all time high of 32.00 points in the third quarter of 2006 and a record low of -53.00 points in the first quarter of 2009. This page provides - Hong Kong Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. Hong Kong Business Confidence - data, historical chart, forecasts and calendar of releases - was last updated on September of 2025.

Business Confidence in Hong Kong increased to -8 points in the third quarter of 2025 from -9 points in the second quarter of 2025. Business Confidence in Hong Kong is expected to be -5.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hong Kong Business Confidence is projected to trend around 6.00 points in 2026 and 3.00 points in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-04-25 08:30 AM
Business Confidence
Q2 -9 -10 -14
2025-07-18 08:30 AM
Business Confidence
Q3 -8 -9 -5
2025-10-24 08:30 AM
Business Confidence
Q4 -8 4


Related Last Previous Unit Reference
Bankruptcies 7396.00 7365.00 Companies Jun 2025
Business Confidence -8.00 -9.00 points Sep 2025
Car Registrations 4393.00 4401.00 Units Jun 2025
Changes in Inventories 2109.00 -6604.00 HKD Million Jun 2025
Industrial Production YoY 0.70 1.00 percent Mar 2025

Hong Kong Business Confidence
In Hong Kong, the Quarterly Business Tendency Survey measures the expectations of entrepreneurs regarding changes in business situation in the current quarter compared to the previous quarter. The survey covers a sample of 560 senior managers from the main sectors of the economy: manufacturing; construction; wholesale and retail trade; accommodation and food services; transportation, storage and courier services; information and communications; financing and insurance; real estate; and professional and business services sectors. The survey result is presented as a net balance: the difference between the percentage of respondents choosing “a better outlook” and that choosing "a worse outlook". A positive sign indicates a likely upward trend while a negative sign, a likely downward trend.
Actual Previous Highest Lowest Dates Unit Frequency
-8.00 -9.00 32.00 -53.00 2006 - 2025 points Quarterly

News Stream
Hong Kong Business Morale Inches Up in Q3
Business confidence in Hong Kong improved slightly to -8 in the third quarter of 2025 from -9 in the previous quarter. The share of respondents expecting business conditions to improve edged up to 10% (vs 9% in Q2), while those anticipating worse conditions remained unchanged at 18%. Confidence strengthened for financing and insurance (11 vs 8 in Q2) and turned positive for real estate (3 vs -11). Sentiment also improved—though remained negative—for manufacturing (-2 vs -20), import/export trade and wholesale (-18 vs -19), accommodation and food services (-16 vs -37), and information and communications (-9 vs -17). In contrast, sentiment deteriorated further for construction (-22 vs -16), transportation, storage and courier services (-31 vs -25), and professional and business services (-14 vs -6). Meanwhile, confidence in retail slipped into negative territory at -14, down from 4 in the previous quarter.
2025-07-18
Hong Kong Business Morale Improves Marginally
Business confidence in Hong Kong edged up to -9 in the second quarter of 2025 from -10 in the previous three-month period. The proportion of respondents expecting business conditions to improve remained unchanged at 9%, while those anticipating worse conditions was 18% (vs 19%). Sentiment improved for manufacturing (-20 vs -22 in Q1), transportation, storage and courier services (-25 vs -27), real estate (-11 vs -15), and professional and business services (-6 vs -8). In addition, sentiment turned positive for retail (4 vs -31). Meanwhile, sentiment further deteriorated for construction (-16 vs -14), import/export trade and wholesale (-19 vs -15), accomodation and food services (-37 vs -36), and information and communications (-17 vs -11). Moreover, sentiment weakened for financing and insurane (8 vs 10).
2025-04-25
Hong Kong Business Morale Sinks
The business confidence in Hong Kong shrank for the third consecutive period to -10 in the first quarter of 2025, down from -3 in the previous three-month period. The proportion of respondents expecting to be better was 9% (vs 13% in Q4), while those anticipating a worse business was 19% (vs 16%). Sentiment continued to deteriorate for manufacturing (-22 vs -19 in Q4), construction (-14 vs -12), import/export trade and wholesale (-15 vs -8%), retail (-31 vs -19), accommodation and food services (-36 vs -3), transportation, storage and courier services (-27 vs -1), and information and communications (-11 vs -5). Moreover, sentiment became pessimistic for both real estate (-15 vs 6) and professional and business services (-8 vs 3). Meanwhile, morale strengthened for financing and insurance (10 vs 2).
2025-01-17