Hong Kong's private sector activity expanded at the fastest pace in more than a year and marked the fourth consecutive month in November, driven by stronger demand both locally and internationally, a S&P Global survey showed on Wednesday.
The S&P Global Hong Kong Purchasing Managers' Index rose to a seasonally adjusted 52.9 in November from 51.2 in October, marking the fourth consecutive month of expansion above the 50-point threshold that separates growth from contraction.
This was the strongest reading since April 2024.
"Hong Kong's private sector saw a more robust end to 2025 as demand conditions improved," said Usamah Bhatti, economist at S&P Global Market Intelligence.
New orders increased at the sharpest rate since May 2023, supported by recovering client confidence and new product launches. Demand from mainland China also rose at the quickest pace in 28 months.
Despite the improved order books, businesses showed reluctance to expand their workforce, with employment declining for the second time in three months and at the fastest rate in eight months, largely due to natural attrition.
Input costs accelerated in November amid rising raw material prices, leading firms to increase their selling prices at the sharpest rate since October 2024.
While business sentiment about the year-ahead output remained negative, the degree of pessimism eased slightly from October. Companies cited concerns about the economic outlook, geopolitical tensions, and rising trade barriers, Bhatti said.
