The S&P Global Hong Kong SAR PMI rose to 52.3 in January 2026 from December’s three-month low of 51.9, signaling a sixth consecutive month of private-sector growth driven by stronger new business inflows. Foreign sales expanded at the fastest pace in nearly three years, while backlogs increased for a second month, with accumulation quickening despite continued job shedding, though marginal. Purchasing activity picked up, while supplier performance improved for the second straight month. On the price front, input costs rose, reflecting higher raw material and labor expenses, though overall input inflation eased. Meanwhile, output prices logged modest acceleration, even as firms offered discounts to spur demand. Looking ahead, business confidence slipped to a five-month low, weighed down by concerns over U.S. trade policy and intensifying market competition. source: S&P Global

Manufacturing PMI in Hong Kong increased to 52.30 points in January from 51.90 points in December of 2025. Manufacturing PMI in Hong Kong averaged 49.00 points from 2011 until 2026, reaching an all time high of 54.90 points in May of 2022 and a record low of 33.10 points in February of 2020. This page provides the latest reported value for - Hong Kong Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Manufacturing PMI in Hong Kong increased to 52.30 points in January from 51.90 points in December of 2025. Manufacturing PMI in Hong Kong is expected to be 51.90 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hong Kong Private Sector PMI is projected to trend around 50.50 points in 2027 and 50.30 points in 2028, according to our econometric models.



Related Last Previous Unit Reference
Bankruptcies 6840.00 9356.00 Companies Nov 2025
Business Confidence -3.00 -2.00 points Mar 2026
Car Registrations 4967.00 5191.00 Units Nov 2025
Changes in Inventories 11626.00 1675.00 HKD Million Sep 2025
Corruption Index 74.00 75.00 Points Dec 2024
Corruption Rank 17.00 14.00 Dec 2024
Industrial Production YoY 5.40 0.90 percent Sep 2025


Hong Kong Private Sector PMI
The S&P Global Hong Kong Purchasing Managers’ Index measures the performance of the private sector and is derived from a survey of 300 companies. The Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the private sector activity compared to the previous month; below 50 represents a contraction; while 50 indicates no change. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
Hong Kong Private Sector Growth Accelerates
The S&P Global Hong Kong SAR PMI rose to 52.3 in January 2026 from December’s three-month low of 51.9, signaling a sixth consecutive month of private-sector growth driven by stronger new business inflows. Foreign sales expanded at the fastest pace in nearly three years, while backlogs increased for a second month, with accumulation quickening despite continued job shedding, though marginal. Purchasing activity picked up, while supplier performance improved for the second straight month. On the price front, input costs rose, reflecting higher raw material and labor expenses, though overall input inflation eased. Meanwhile, output prices logged modest acceleration, even as firms offered discounts to spur demand. Looking ahead, business confidence slipped to a five-month low, weighed down by concerns over U.S. trade policy and intensifying market competition.
2026-02-04
Hong Kong Private Sector PMI Down from Near 3-Year Peak
The S&P Global Hong Kong SAR PMI eased to 51.9 in December 2025 from November’s near three-year high of 52.9, signaling slower momentum yet sustained expansion. Output rose for a fifth month, with growth moderating but still among the strongest in over three years. New orders matched output’s pace, marking the second-fastest rise since April 2023, helped by firm demand from mainland China and overseas. Purchasing activity and inventories continued to expand, though more modestly, while supplier performance improved for the first time since May. Stronger orders lifted backlogs for the first time in a year, with accumulation at its quickest since November 2024. Employment fell for a second month as firms refrained from replacing leavers. Input costs climbed on pricier raw materials and sharply higher staff expenses, prompting firms to raise selling prices, driving charge inflation to a 26-month peak. Finally, sentiment notched its lowest since June 2023 amid global and tariff concerns.
2026-01-06
Hong Kong Private Sector PMI Hits Near 3-Year High
The S&P Global Hong Kong SAR PMI jumped to 52.9 in November 2025 from 51.2 in October, marking a fourth straight month of expansion in private sector activity and the fastest pace since March 2023. The improvement was driven by stronger growth in both output and total new orders, supported by firmer demand from abroad and from Mainland China. Robust demand conditions also led to a further increase in input buying, though firms remained cautious about hiring amid subdued sentiment toward the year ahead. On the price front, input cost inflation accelerated to the second highest level in two years, reflecting rising purchasing and labor costs. As a result, output charges increased at the fastest rate since September 2024.
2025-12-03