S&P Global announced that Hong Kong's Purchasing Managers' Index (PMI) rose to 52.2 in October, the highest level in a year and a half, indicating an improvement in the business environment at the beginning of the fourth quarter.
Ricky Choi, Chief Economist of the Bank of East Asia, stated that the mainland is expected to continue implementing measures to support the economy. Additionally, with the U.S. continuing to cut interest rates, it is estimated that the economic environment in Hong Kong will be better in the fourth quarter compared to the previous quarter. Still, it is not expected to be "booming" in the short term, as the effects of policies take time to reflect.
He believes there is a good chance that Hong Kong's PMI will remain above 50 soon.
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NBS of China: PMI rises to 49.8 for September, increase of 0.7 from August
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