标普全球9月香港PMI跌至50.4 企业悲观情绪减弱

Core Insights - The Hong Kong Purchasing Managers' Index (PMI) decreased to 50.4 in September from 50.7 in August, indicating a slight decline in the expansion of the business environment, although it remains in the expansion zone for two consecutive months [1] Economic Activity - Economic activity in Hong Kong grew slightly compared to August, marking the highest level since December of the previous year [1] - New orders have seen a slight reduction for two consecutive months, with a significant drop in new orders from mainland China and overseas markets in Q3, reflecting weakened export trade demand [1] Business Sentiment - The business atmosphere in September stabilized, with companies generally maintaining a pessimistic outlook, although the level of pessimism is the lowest since December 2023 [1] - Respondents indicated that U.S. trade policies and global economic uncertainties are undermining business confidence, but local economic improvements have fostered some optimism, partially offsetting negative views [1] Employment and Orders - The expansion of economic activity in September occurred at the fastest pace in ten months, with the decline in new orders remaining consistent with August, and employment levels remained largely unchanged [1] - However, the decline in order demand is significant, with the overseas market experiencing the largest drop in three and a half years [1] Cost Pressures - Overall input costs have risen close to the largest increase in two years, driven by rising raw material prices and labor costs, indicating increased inflationary pressures [1]