Hong Kong Manufacturing Growth Slows in Q1

Manufacturing production in Hong Kong increased 2.3% year-on-year in the second quarter of 2026, down from 3.1% in the previous quarter and slowing for a second consecutive quarter to its weakest pace of growth since the second quarter of 2025. Activity in the manufacturing of metal, computer, electronic and optical products, machinery and equipment slowed for a second consecutive quarter, rising 3.8% after a 6.5% increase, while output of food, beverages and tobacco plunged 4%, reversing a 2.2% rise in the prior quarter. Meanwhile, production of textiles and wearing apparel remained in contraction, although the decline eased to 1.5% from 4.6%. In contrast, manufacturing of paper products, printing and reproduction of recorded media rebounded, rising 2.8% after a 2.6% contraction. On a seasonally adjusted quarterly basis, manufacturing production edged up 0.2%, following a 2.6% drop in the prior quarter.

Manufacturing production in Hong Kong increased 3.1% year-on-year in the first quarter of 2026, slowing from a revised 5.8% expansion in the previous three-month period. This marked the weakest growth since the second quarter of 2025, as output growth eased in food, beverages and tobacco (2.1% vs 3.1% in Q4), metal, computer, electronic and optical products, machinery and equipment (6.6% vs 6.9%), and miscellaneous manufacturing industries (5% vs 9.7%). Meanwhile, declines in paper products, printing and reproduction of recorded media deepened (-2.6% vs -0.2%), while output in textiles and wearing apparel remained unchanged at -4.7%. On a seasonally adjusted quarterly basis, manufacturing production fell 2.6%, reversing from a 1.3% rise in the fourth quarter of 2025.

Manufacturing production in Hong Kong grew 5.7% year-on-year in the fourth quarter of 2025, accelerating from a downwardly revised 5.3% rise in the previous three-month period. It marked the fastest pace of growth since the fourth quarter of 2021, mainly driven by higher output in the manufacture of food, beverages, and tobacco (3.2% vs 2.5% in Q3), metal, computer, electronic, and optical products, machinery and equipment (6.9% vs 6%), and miscellaneous manufacturing industries (9.4% vs 9.1%). In addition, manufacturing of textiles and wearing apparel (-4.7% vs -5.2%) declined at a softer pace. On the other hand, output slipped for the manufacture of paper products, printing, and reproduction of recorded media (-0.2% vs 1.2%). On a seasonally adjusted quarterly basis, manufacturing production eased to 1.3% from 4.5% in the third quarter of 2025.