Hong Kong's private sector recorded continued but marginal improvement in its business conditions in January, despite business expectations staying downbeat, according to a Wednesday press release by S&P.
The S&P Global Hong Kong SAR Purchasing Manager's Index slipped to 51.0 in January from 51.1 in December 2024, staying in expansionary territory but at the lowest since September 2024.
New orders grew but at the softest pace since the 18-month peak last seen in October due to weak consumer spending and a slump in business, according to S&P.
New business from mainland China fell the greatest since April 2022 while exports slipped for the third month, the debt watcher said.
Employment in Hong Kong's private sector increased the second time in the past nine months due to higher recruitment in the services and wholesale/retail sectors, S&P said.
Purchasing activity expansion was the slowest during the month, while supplier performance fell for the sixth straight month due to shipping delays and insufficient spare capacity, and input price inflation was the highest in three months.
Business expectations also stayed downbeat, but confidence continues to rise from the 13-month low seen in November, S&P said.
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