中新社香港1月6日电 (记者 戴小橦)全球金融信息服务公司标普全球6日发布报告称，香港2025年12月采 购经理指数(PMI)经季节调整后降至51.9，数字连续5个月高于50(即处于扩张区间)，反映香港营商环境 好转。 报告指出，香港私营企业连续5个月增产，2025年12月升幅虽较11月回落，但增速依然稳健，是过去3年 的高位之一。企业新订单于2025年底持续转升，从中国内地和海外市场新接的业务量显著增加，为整体 订单的升势提供支持。 标普全球市场财智经济学家乌萨马·巴提(Usamah Bhatti)表示，标普全球香港PMI数据显示，2025年12月 香港营商环境进一步改善。前瞻指数方面，反映产能局限走向的积压工作指数结束一年跌势，显示企业 生产规模可望扩大。此外，业界对未来一年生产的悲观情绪，已减退至2023年以来最低，显示业界对香 港经济前景充满信心。(完) 香港2025年12月PMI为51.9 连续5个月高于50 编辑：郭晋嘉 广告等商务合作，请点击这里 本文为转载内容，授权事宜请联系原著作权人 中新经纬版权所有，未经书面授权，任何单位及个人不得转载、摘编或以其它方式使用。 关注中新经纬微信公众号(微信 ...

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]

Core Insights - The July Purchasing Managers' Index (PMI) data indicates a slight decline in China's manufacturing and non-manufacturing sectors, reflecting economic pressures [1][3][4] Manufacturing Sector - The manufacturing PMI for July is reported at 49.3%, a decrease of 0.4 percentage points from the previous month, indicating contraction [1][3] - The production index and new orders index are at 50.5% and 49.4%, respectively, showing a decline of 0.5 and 0.8 percentage points, suggesting a slowdown in market demand [5] - Despite the decline, the manufacturing sector shows resilience with high-tech and equipment manufacturing PMIs remaining above the critical point [5] Non-Manufacturing Sector - The non-manufacturing business activity index stands at 50.1%, down 0.4 percentage points from June, but still above the critical threshold [1][6] - The service sector remains stable, with a business activity index of 50.0%, slightly down by 0.1 percentage points [6] - The summer holiday effect positively influences service-related sectors such as transportation and entertainment, with indices exceeding 60.0% [6] Economic Outlook - Experts suggest that the fluctuations in the manufacturing PMI are primarily due to short-term factors, and the foundation for economic recovery remains solid [4] - The construction sector is experiencing a slowdown due to adverse weather conditions, but is expected to rebound as the rainy season ends [6][7]

Group 1 - The Hong Kong private sector is experiencing a further contraction, with the S&P Global Hong Kong Purchasing Managers' Index (PMI) dropping from 49 in May to 47.8, marking the largest decline since April 2022 [1] - New orders for businesses have decreased for five consecutive months, attributed to tight customer budgets and uncertainty in U.S. trade policies, leading to a significant reduction in business activity [1] - The production output has seen its most notable decline in a year, as both domestic and overseas business volumes have sharply reduced compared to May [1] Group 2 - Companies are cautiously managing employee recruitment due to concerns about business prospects, with pessimism among businesses reaching its highest level since September 2020 [1] - Input costs have risen, but the increase is the smallest since February 2021, with wage inflation slowing down helping to suppress cost increases [1] - The overall business confidence has dropped to its lowest level in nearly five years, raising concerns about the future performance of the sector [2]