S&P Global: Hong Kong's November PMI rises to 52.9, the fastest expansion in over 2 and a half years.

Standard & Poor's Global announced that Hong Kong's Purchasing Managers' Index (PMI) rose to 52.9 in November, staying above 50 for the 4th consecutive month in the expansion range, reflecting a sustained improvement in Hong Kong's business environment. The expansion speed is the fastest in over 2 and a half years, as October's PMI was 51.2. Standard & Poor's stated that new orders for businesses have increased for 2 consecutive months, with the largest increase in over 2 and a half years; export orders have resumed growth for the first time in over a year, with orders from the mainland reaching the highest level in 28 months. Customer demand is increasing, leading to the fastest production expansion in over 2 and a half years. However, businesses are pessimistic about their business prospects in the next year, holding a wait-and-see attitude towards hiring more staff, and have reduced their workforce for the second time in 3 months. Purchasing prices and employee costs are rising, causing businesses to increase output prices by the largest margin since October of last year.