Hong Kong June PMI improves to 49.6 (prior 43.9)

Author: Eamonn Sheridan | Category: News

The key points from IHS/Markit on the HK PMI:

  • Output and new orders fall at slowest rates for over two years 
  • Employment levels broadly stable 
  • Input cost inflation returns
The key points from IHS/Markit on the HK PMI:
Bernard Aw, Principal Economist at IHS Markit: 
  • "The Hong Kong SAR private sector showed signs of stabilisation in June as restrictions taken to limit the spread of the COVID-19 pandemic ease further. 
  • "Business activity and new orders both declined at the slowest rates since the first half of 2018 before the escalation of the US-China trade tensions. Private sector employment levels also stabilised while firms raised their purchasing activity for the first time in over two years. 
  • "However, survey data indicated that external demand, particularly from mainland China, is still weak. Firms also remained concerned about the long-term impact of the COVID-19 pandemic on economic activity. As such, the potential of a robust recovery in the Hong Kong economy relies on the strength of the upturn in the global economy in the coming months."

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