FX.co ★ Hong Kong Manufacturing Growth Slows in Q1

Hong Kong’s manufacturing output grew 3.1% year-on-year in the first quarter of 2026, easing from a revised 5.8% increase in the previous quarter. This was the slowest pace of expansion since the second quarter of 2025. Growth moderated in several key segments, including food, beverages and tobacco (2.1% vs 3.1% in Q4), metal, computer, electronic and optical products, as well as machinery and equipment (6.6% vs 6.9%), and miscellaneous manufacturing (5% vs 9.7%). At the same time, the contraction in paper products, printing and reproduction of recorded media worsened (-2.6% vs -0.2%), while output in textiles and wearing apparel was unchanged at -4.7%. On a seasonally adjusted quarter-on-quarter basis, manufacturing production declined 2.6%, reversing a 1.3% increase recorded in the fourth quarter of 2025.