Hong Kong’s PMI for May is 54.9
Impressive performance for a place so recently mired in COVID restrictions. The same should come from China as soon as the June PM.
- “Hong Kong SAR’s private sector growth accelerated in May, benefiting from the easing of COVID-19-related disruptions. Demand and production both grew at high rates, triggering the recovery of growth in hiring and buying activity Overseas demand also increased, although demand from mainland China remained under pressure.
- Despite the unleashing of pent-up demand with the easing of virus restrictions, price and supply pressures showed no signs of worsening, which had been a positive sign. This continues to suggest that the Hong Kong SAR economy is recovering strongly in the second quarter.
- Overall sentiment in Hong Kong SAR remained positive, with the latest developments boding well for further improvements in trading conditions.
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