The November PMI stands as the highest reading since March 2018.
The IHS Markit Hong Kong Purchasing Managers’ Index (PMI) in November hiked 0.3 point from the month prior to 50.1, the highest reading since March 2018.
“By coming in fractionally above the 50 no-change level, the PMI indicated broadly unchanged business conditions in the private sector,” commented information provider IHS Markit.
The data presented a broad stabilisation in the city’s private sector conditions halfway through Q4; business activity fell modestly, whilst new sales dropped at a slower rate. Purchasing activity was mostly stable, the report added, noting that input inventories have accumulated for the first time in nearly two years.
Concurrently, “job shedding persisted, but at a marginal rate,” the report added.
In all, business confidence has remained negative.
Do you know more about this story? Contact us anonymously through this link.