Hong Kong's business environment deterioration August PMI fell to the lowest in six years

  According to "Wen Wei Po" reported that the Hong Kong economy sounded the alarm, the business environment is the worst in six years。
Published in August in Hong Kong Purchasing Managers' Index (PMI) report, fell to the lowest since early 2009。 Output and new orders which are substantially reduced, resulting in layoffs fastest rate since 2003。
Hong Kong Federation of Industries Vice Chairman Jimmy Kwok said that global consumer spending remained weak, Hong Kong's exports this year, significantly worse than last year。 He acknowledged Hong Kong enterprises to reduce manpower, and no growth momentum, the situation is even worse in the second half expected。
  Hong Kong August PMI index value of the Nikkei, down from last month's points, compared with the same period last year dropped more points, six consecutive rise and fall months fell below the 50 line, and displays the Hong Kong enterprises overall business conditions deteriorated again, business contraction , the degree of deterioration is most severe in six years。
Hong Kong stocks opened higher yesterday and the early part of 223 points, but after the figures were published, the Hang Seng Index, fell, fell up to 219 points。   Data show that the slip by reducing the economic environment and the impact of visitors, customer demand soft, new orders decreased, enterprises to further reduce inventory and procurement, and reduce the number of employees。
Among them, new business volume fell further reduce rates more rapidly expand to up to 75 months。 Markit economist AnnabelFiddes refers to the private sector in Hong Kong from mainland China new business since 2008, the largest decrease。 Enterprise and the fifth consecutive month cut production, reduce the rate hit the highest 77 months。
Therefore, Hong Kong enterprises to accelerate the pace of layoffs began last month, the highest rate of job losses since April 2003。
  Hong Kong Federation of Industries Vice Chairman Jimmy Kwok said that this year's business environment significantly higher than last year's poor。 Continued global economic slowdown, some weaker companies more conservative attitude, then cut staff to save costs。 Jimmy Kwok expected, without increasing the power, coupled with stock market volatility, the economic situation will be more severe in the second half, Hong Kong orders fell 5% during the period will be in。
He said the industry in this economy can be expected to remain stable low growth, but now they do not see growth opportunities。
Even for the next one to two years the business environment, he also pessimistic。   AnnabelFiddes said that Hong Kong enterprises in overall business conditions rapidly deteriorated with the degree of deterioration is the most serious since the global financial crisis。
In the global economic outlook uncertain environment, soft demand。
Unless demand picks up, otherwise the Hong Kong enterprises will be further production cuts, layoffs, to reduce procurement, expected short-term contraction will be in business。