Hong Kong leads rise in GBA business confidence in Q3

“Current performance” and “expectations” rose by 8.3 and 7.3 points respectively.

Hong Kong recorded the strongest rise in business confidence amongst Greater Bay Area cities in the third quarter (Q3), with its “current performance” and “expectations” indices increasing by 8.3 and 7.3 points respectively, to 52.2 and 53.6.

Overall, the Greater Bay Area Business Confidence Index rose to a multi-year high, with the “current performance” index up to 54.7 from 53.1 in Q2.

Six of the eight “current performance” sub-indices improved, led by an 8-point increase in new orders to 57.5 and a 4.1-point rise in prices of finished goods and services to 58.8.

Meanwhile, the “expectations” index rose to 55.7 from 52.0, reaching a two-year high.

All “expectations” sub-indices remained above the neutral mark, with the largest gains seen in production and sales, followed by financing scale, fixed asset investment, and profit.

The figures were released in a report jointly compiled by Standard Chartered and the Hong Kong Trade Development Council.