The S&P Global Hong Kong PMI jumped to 54.9 in May 2022 from 52.7 a month earlier. This was the second straight month of increase in private sector activity and the strongest pace since March 2011, amid the stabilization of COVID-19 conditions and easing of curbs. Output and new order growth accelerated; while foreign sales rose for the first time in five months, though demand from China remained under pressure. In addition, there was an expansion of workforce numbers, and buying levels saw renewed growth after four months of contraction. Delivery times lengthened, due to curbs in China as well as shipping and manpower issues, while backlogged work continued to accumulate. On prices, input prices continued to climb, on higher purchase prices and wages; and firms continued to share these cost burdens with their clients. That said, the rate of both input cost and output price inflation declined. Finally, sentiment stayed positive despite the level of optimism eased. source: Markit Economics

Manufacturing PMI in Hong Kong averaged 48.52 points from 2011 until 2022, 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. Hong Kong Private Sector PMI - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.

Manufacturing PMI in Hong Kong is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hong Kong Private Sector PMI is projected to trend around 52.00 points in 2023, according to our econometric models.

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Hong Kong Private Sector PMI



Related Last Previous Unit Reference
Manufacturing PMI 54.90 51.70 points May 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
54.90 51.70 54.90 33.10 2011 - 2022 points Monthly
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News Stream
Hong Kong Private Sector Grows the Most Since 2011
The S&P Global Hong Kong PMI jumped to 54.9 in May 2022 from 52.7 a month earlier. This was the second straight month of increase in private sector activity and the strongest pace since March 2011, amid the stabilization of COVID-19 conditions and easing of curbs. Output and new order growth accelerated; while foreign sales rose for the first time in five months, though demand from China remained under pressure. In addition, there was an expansion of workforce numbers, and buying levels saw renewed growth after four months of contraction. Delivery times lengthened, due to curbs in China as well as shipping and manpower issues, while backlogged work continued to accumulate. On prices, input prices continued to climb, on higher purchase prices and wages; and firms continued to share these cost burdens with their clients. That said, the rate of both input cost and output price inflation declined. Finally, sentiment stayed positive despite the level of optimism eased.
2022-06-06
Hong Kong Private Sector Rebounds
The S&P Global Hong Kong PMI jumped to 51.7 in April 2022 from 42.0 a month earlier, marking the first growth since last December amid the receding of COVID-19 cases and easing of restrictions. The latest figure also represented the strongest expansion in the private sector since November 2021, with both new orders and output returning to growth. Meanwhile, foreign sales continued to fall amid lockdowns in China, and buying activity likewise declined due to a reluctance to hold inventory and supply delays. Employment also shrank on the back of resignations and redundancies, while backlogs of work increased marginally. At the same time, delivery times lengthened amid curbs in China and supplier issues. On the cost side, input prices continued to climb, linked to both higher purchase prices and wages; while output price inflation jumped as firms shared cost burdens with their clients. Finally, sentiment improved, on hope that demand will strengthen as pandemic disruptions ease.
2022-05-05
Hong Kong Private Sector Shrinks the Most in Near 2 Years
The S&P Global Hong Kong PMI fell to 42.0 in March 2022 from 42.9 in the prior month. This was the third straight month of contraction in private sector activity and the steepest pace since April 2020 amid persistent disruptions from the Omicron outbreak. Both output and new orders contracted for the third month running and at faster rates, while export orders eased with those from mainland China were affected by lockdowns in the region. Also, buying levels slowed as firms were reluctant to hold inventories as economic conditions deteriorated. Meantime, employment grew after a drop in February, while the level of work outstanding continued to ease. At the same time, there were signs of worsening supply constraints with lead times lengthening the most since January 2021. On prices, input cost inflation hit its highest since October 2011, due to higher raw material and transportation costs on the back of the Ukraine war impact. Finally, sentiment remained pessimistic.
2022-04-06