香港 - 製造業PMI

The IHS Markit Hong Kong PMI fell to 38.5 in November 2019 from 39.3 in October. The reading pointed to the sharpest contraction in the private sector since the SARS epidemic in April 2003, on the back of political unrest and impact of trade tensions. Business activity fell at the steepest pace on record and new orders declined at the quickest rate since November 2008. New orders from mainland China dropped for the 19th consecutive month and at one of the fastest rates since series began. Also, backlogs of work continued to fall and the job creation rate fell marginally. Firms continued to scale back their purchasing activity and input inventories, reducing both at an all-time record rate. On the price front, input costs declined, dragged down by the first fall in staff costs for over three years and output prices went down for the 5th straight month. Finally, sentiment remained among its lowest level since survey began amid a political crisis and weak global trade conditions.

The IHS Markit Hong Kong PMI fell to lowest on the record of 39.3 in October 2019 from 41.5 in September on the back of political unrest and impact of trade tensions. New orders fell the most since January 2009, led by a record decline in new orders from mainland China. As a result, backlogs of work declined further and at a marked pace. Companies also cut back on purchasing activity and input inventories at the fastest rate in the survey history. Meanwhile, employment grew for the first time in three months, though the rate of job creation was marginal. In terms of inflation, input prices rose for the first time in four months, albeit only modestly. On the contrary, output prices were reduced for a fourth straight month, amid eforts to boost sales via price discounts. Looking ahead, sentiment weakened.

The IHS Markit Hong Kong PMI edged up to 41.5 in September 2019 from 40.8 in August. Both output and new orders fell at the second-steepest rate since February 2009, dragged down by another sharp decline in orders from mainland China. Also, employment decreased for the second straight month, with the pace of job cuts quickened from that seen in August, while input buying was reduced at the second-steepest rate since the survey started just over 21 years ago. On the price front, the deflationary trend extended. Overall cost burdens dropped the most since January 2016. Firms in turn cut their selling prices further, reflecting efforts to boost sales and clear stocks. Finally, sentiment deteriorated to a record low.

The IHS Markit Hong Kong PMI dropped to 40.8 in August 2019 from 43.8 in the previous month, signalling the steepest deterioration in the health of the private sector since February 2009 amid ongoing US-China trade dispute and large-scale political demonstrations. New orders declined at the sharpest pace in over a decade, dragged by a record fall in new business from mainland China. Also, business activity contracted the most since the end of 2008, while buying levels plunged the most since July 1998, leading to a record depletion in input inventories. Meantime, longer delivery times were seen for the first time in six months, as delays were reportedly linked to increased security checks and protest-related disruptions. On the price front, cost burdens fell for a second straight month, providing room for firms to reduce their selling prices at the sharpest rate since the start of 2016. Looking ahead, business sentiment weakened to its lowest since April 2012.

The seasonally adjusted Nikkei Hong Kong PMI dropped to 43.8 in July, the lowest since March 2009, from 47.9 in the previous month, amid ongoing US-China trade dispute and escalating large-scale political demonstrations. This was the 16th straight month of contraction in private sector, with output falling the most since the first quarter 2009, and new orders declining at the fastest pace in over a decade. Also, new export orders from mainland China decreased at the steepest rate in nearly four years, while firms cut back their purchasing activity and tapped into current stock-holdings to meet output requirements. On the price front, overall cost burdens decreased, led by a solid decline in purchase costs for inputs. Consequently, firms lowered their selling prices for the first time in three months, reflecting efforts to clear stocks and attract new clients. Finally, sentiment weakened to its lowest in 3-1/2 years.

The seasonally adjusted Nikkei Hong Kong PMI increased to 47.9 in June of 2019 from 46.9 in the previous month and compared with market expectations of 46.8. The latest reading pointed to a contraction in the private sector for the fifteenth straight month amid concerns over rising US-China trade tensions and local protests. New orders dropped, extending the current trend of contractions that started in April last year, as orders from mainland China shrank at the strongest pace in over three-and-a-half years. Also, staff numbers were reduced, and purchasing activity fell as firms preferred to tap into existing inventories to meet demand. On the price front, input costs accelerated and output prices increased marginally mostly driven by higher materials costs and wage increases. Finally, sentiment weakened, amid US-China trade worries and intense competition.