The IHS Markit Hong Kong PMI plunged to 44.5 in July 2020 from 49.6 in the prior month, amid a tightening of containment measures due to a rise in new COVID-19 infections. Output, new orders and new export orders all fell at faster paces. Also, purchasing activity was cut severely, dropping at a rate comparable to those during the height of the lockdown measures earlier in the year. Meanwhile, employment remained broadly unchanged, as was the case in June, though the level of backlogs fell further. Prices data showed input prices dropped after a marginal increase in June. Output charges fell for a thirteenth straight month, and at a marked pace that was the fastest since April. Finally, sentiment weakened, aid a resurgence of virus cases and its associated impact on economic activity.
Manufacturing PMI in Hong Kong averaged 48.31 points from 2011 until 2020, reaching an all time high of 53.30 points in February of 2014 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. Hong Kong Private Sector PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Markit Economics
Manufacturing PMI in Hong Kong is expected to be 50.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Hong Kong to stand at 51.60 in 12 months time. In the long-term, the Hong Kong Private Sector PMI is projected to trend around 51.80 points in 2021, according to our econometric models.