Hong Kong PMI falls to 51.9 in December

Hong Kong's  private sector growth cooled slightly in December, with the S&P Global purchasing managers' index easing to 51.9 from November's 52.9,  yet it remains in expansion for the fifth consecutive month above the crucial 50-point threshold.

In December, private sector firms in Hong Kong increased their output for the fifth consecutive month. Despite the growth rate softened compared to the previous survey period, it remained solid and was one of the highest in the past three years. Data indicated that a sustained improvement in demand conditions had driven the latest increase in output.

Besides, overall new business continued to expand at the end of 2025. With the higher customer numbers and greater client confidence behind the sales, the rate of growth was the second strongest since April 2023. Data also showed that the upturn was supported by solid increases in new work across mainland China and international markets.

The degree of pessimism around the year ahead was the least severe since mid-2023 on the back of greater confidence regarding the health of the domestic economy in particular.