The S&P Global Hong Kong SAR PMI declined to 49.2 in September 2026 from 49.1 in August, marking the second straight month of contraction. It was the fastest contraction in private-sector business activity since April, as new orders and output fell for the second straight month due to challenges in the economic environment. However, foreign sales rose for the first time in three months and at the sharpest pace since May. Employment continued to decline, posting its sharpest fall in almost six-and-a-half years. Meanwhile, purchasing activity increased, helping inventory levels to rise for the fifteenth time in the past 16 months. Delivery times lengthened due to higher transportation costs. On the price front, input costs rose, boosted by higher raw material costs, while output cost inflation eased due to discounts as part of efforts to boost sales. Lastly, sentiment weakened to its lowest level since 2020, amid higher tariffs, increased competition, and challenging business conditions. source: S&P Global

Manufacturing PMI in Hong Kong decreased to 49.20 points in September from 49.50 points in August of 2026. Manufacturing PMI in Hong Kong averaged 49.06 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 decreased to 49.20 points in September from 49.50 points in August of 2026. Manufacturing PMI in Hong Kong is expected to be 50.90 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 52.00 points in 2027 and 51.60 points in 2028, according to our econometric models.



Related Last Previous Unit Reference
Bankruptcies 12622.00 11016.00 Companies Apr 2026
Business Confidence -4.00 -5.00 points Sep 2026
Car Registrations 9290.00 10446.00 Units Apr 2026
Changes in Inventories 22940.00 60737.00 HKD Million Jun 2026
Corruption Index 76.00 74.00 Points Dec 2025
Corruption Rank 12.00 17.00 Dec 2025
Industrial Production YoY 2.30 3.20 percent Jun 2026


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 Contracts the Most in 5 Months
The S&P Global Hong Kong SAR PMI declined to 49.2 in September 2026 from 49.1 in August, marking the second straight month of contraction. It was the fastest contraction in private-sector business activity since April, as new orders and output fell for the second straight month due to challenges in the economic environment. However, foreign sales rose for the first time in three months and at the sharpest pace since May. Employment continued to decline, posting its sharpest fall in almost six-and-a-half years. Meanwhile, purchasing activity increased, helping inventory levels to rise for the fifteenth time in the past 16 months. Delivery times lengthened due to higher transportation costs. On the price front, input costs rose, boosted by higher raw material costs, while output cost inflation eased due to discounts as part of efforts to boost sales. Lastly, sentiment weakened to its lowest level since 2020, amid higher tariffs, increased competition, and challenging business conditions.
2026-10-06
Hong Kong Private Sector Activity Contracts in August
The S&P Global Hong Kong SAR PMI fell to 49.5 in August 2026 from 51.0 in July, signaling a renewed deterioration in private sector business conditions after three consecutive months of expansion. Output and new orders both contracted for the first time since April, as higher prices and weaker domestic and global demand weighed on activity and sales. New export business also declined marginally, although demand from Mainland China edged higher. Meanwhile, input cost inflation accelerated to a three-month high, driven by higher raw material and staff costs, prompting firms to raise selling prices at the fastest pace since April 2023. Employment declined for a fifth consecutive month as weaker demand and spare capacity discouraged hiring. Looking ahead, business confidence weakened further, with firms increasingly pessimistic about the year-ahead outlook amid concerns over the domestic economy, US tariffs and geopolitical uncertainty.
2026-09-03
Hong Kong Private Sector Expansion Eases
The S&P Global Hong Kong SAR PMI fell to 51 in July 2026, from a four-month high of 52.0 in the previous month. Still, it remained in expansion territory for a third consecutive month as output growth accelerated to its fastest pace in five months. New orders also continued to expand for a third straight month, though softer overseas demand led to slower overall sales growth than in June. Meanwhile, firms continued to trim headcounts, with employment declining at the sharpest rate in three years as businesses sought to contain costs. On the pricing front, inflationary pressures softened, with input costs rising at the slowest pace since March, while output price inflation also eased at the start of the third quarter. Looking ahead, business confidence deteriorated, with companies turning more pessimistic about the year-ahead outlook amid concerns over domestic economic environment and inflationary pressures.
2026-08-05