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.
Meanwhile, the University of Hong Kong expects first-quarter GDP to grow by 2.4 percent from a year earlier