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S&P Global HK Adj. PMI Hikes to 52.3 in Jan; Export Orders See Highest Growth in ~3Yrs
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S&P Global's Hong Kong Purchasing Managers' Index (PMI), seasonally adjusted, ascended from 51.9 in December of the previous year to 52.3 in January of this year, reflecting a persistent and robust improvement in Hong Kong's business environment. Business activities elevated for the sixth consecutive month, with the expansion rate remaining steady MoM, showing an overall evident improvement. Industry data indicated that the growth was driven by the service sector, followed by wholesale and retail, while manufacturing and construction moved in the opposite direction. During the period, new orders also increased remarkably, with the expansion rate being the second highest since May 2023, following closely behind November of the previous year. Respondents frequently mentioned that companies adjusted market strategies and introduced new products, successfully boosting sales. Meanwhile, customer demand from overseas and mainland markets also improved at the beginning of the year. In fact, the growth in export orders was the highest in nearly three years. AASTOCKS Financial News Website: www.aastocks.com |
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