Tuesday, January 6, 2015

HONG KONG FACTORY OUTPUT, PURCHASING MANAGERS' INDEX

From the Hong Kong Standard--

Factory output rises

Wednesday, January 07, 2015

The HSBC Hong Kong purchasing managers' index rose to 50.3 in December, the first time the reading exceeded 50 since July, denoting expansion and negligible impact from Occupy Central.
HSBC said manufacturing PMI rose from 48.8 in November, helped by the increase of new business and output, despite new orders from China falling for the fifth straight month. George Leung Siu-kay, HSBC's adviser for Asia- Pacific strategy and economics, estimated that local GDP would grow by a modest 2 percent this year, lower than 2.2 percent last year, due to weak growth in domestic demand and foreign trade.
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He said China's slowing economy will dispel mainland visitors' consumption.
Meanwhile, the University of Hong Kong expects first-quarter GDP to grow by 2.4 percent from a year earlier