PMI soars to an 11-year high of 54.9 in May: S&P Global

The growth was driven by reduced COVID disruptions.

Hong Kong’s S&P Global Purchasing Manager’s Index (PMI) soared to an 11-year high of 54.9 in May on the back of reduced COVID disruptions.

May also marked the second month of expansion for the private sector.

Apart from the stabilisation of COVID conditions and easing of restrictions, S&P Global said the distribution of consumption vouchers also contributed to boosting business activity in Hong Kong.

During the month, HK also saw an improvement in new orders which drove an expansion of workforce numbers and higher inventory levels.

Whilst there were several improvements in May, there were also reported deteriorations during the month like vendor performance. Suppliers’ delivery times also lengthened, said S&P.

Overall, S&P said sentiment in the private sector was positive.

“Hong Kong SAR economy is recovering strongly into the second quarter. The latest developments bode well for further improvements in business conditions,” Jingyi Pan, Economics Associate Director at S&P Global Market Intelligence, said.

Follow the link for more news on

S&P

PMI

Also Read

Lead found in 11 ceramic tableware models, within safety limits

HKPC unveils strategies for transforming Hong Kong’s manufacturing sector

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit