香港8月PMI升至50.7 为七个月来首次扩张

Core Viewpoint - The latest data from S&P Global indicates that Hong Kong's Purchasing Managers' Index (PMI) rose from 49.2 in July to 50.7 in August, marking the best performance since mid-Q1 and the first return to expansion territory above 50 in seven months, reflecting an improvement in the business environment [1] Group 1: Economic Indicators - In August, private enterprises in Hong Kong increased production for the first time in five months, although the expansion rate was modest, representing the most significant growth since December of the previous year [1] - The private economy in Hong Kong reversed a downward trend that had persisted since February, showing improvement in mid-Q3 [1] - Employment levels rose in August, breaking a three-month decline, which aligns with the increase in production by enterprises [1] Group 2: Market Dynamics - Despite a continuous decline in order volumes from overseas and mainland China, businesses have resumed production, with local market demand providing strong support [1] - The overall input costs increased in August, but the growth rate was more moderate compared to the previous month [1] Group 3: Future Outlook - Usamah Bhatti, an economist at S&P Global, noted that while the latest PMI data shows an improvement in the business environment, new business volumes from mainland China and overseas markets are adversely affected by increased U.S. tariffs [1] - Bhatti believes that order growth is primarily limited to local demand, and several forward-looking indicators remain on a downward trend [1] - Companies are continuing to process outstanding orders while also reducing procurement activities, indicating that business production may rely on clearing backlogs for support [1]