What you must know about Hong Kong's resilient economy

PMI has been treading uphill.

According to Hang Seng Bank's Hong Kong Economic Monitor, in spite of the ongoing banking sector woes in Europe, the payroll tax increase and the automatic government spending cuts in the US, Hong Kong has reported relatively positive data in recent months. 

This echoes the moderate recovery in the region, albeit some setback in growth momentum was seen in March.

Here's more from the report:

The uptrend in retail sales and Purchasing Managers’ Index (PMI) warrants particular attention as both indicators have historically proved to be good proxies for the quarterly GDP outturn.

On the basis of the retail sales and PMI figures, one would expect Hong Kong GDP growth to accelerate to over 3% for 1Q13.