The private sector in Hong Kong continued to strengthen in January, and at a faster pace, the latest survey from S&P Global revealed on Tuesday with a services PMI score of 52.3.
That’s up from 51.9 in December and it moves further above the boom-or-but line of 50 that separates expansion from contraction.
Business activity across the private sector increased for the sixth successive month during January. The rate of growth was unchanged from December and solid overall. The service sector led the expansion, according to sub-industry data, followed by wholesale & retail firms. Activity levels meanwhile fell in the manufacturing and construction sectors.
New orders also increased at a marked pace, with the rate of expansion the second steepest since April 2023 (after November 2025). Survey respondents often mentioned that new marketing strategies and the introduction of new products had supported the latest upturn in sales.
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