FX.co ★ Hong Kong Private Sector PMI Hits Near 3-Year High

The S&P Global Hong Kong SAR PMI rose to 52.9 in November 2025 from 51.2 in October, signifying a continuous four-month expansion in private sector activity and the most rapid pace observed since March 2023. This uptick was attributed to heightened growth in both production and total new orders, propelled by stronger demand from international markets as well as Mainland China. The favorable demand environment also prompted an increase in input purchasing, though companies exercised prudence in hiring due to cautious outlooks for the coming year. In terms of pricing, input cost inflation surged to its second highest level in two years, driven by escalating purchasing and labor expenses. Consequently, output prices rose at their fastest rate since September 2024.