HK economy accelerates growth in May: survey

Economic conditions in Hong Kong in May recorded the sharpest improvement for 13 months, according to the Brunswick Purchasing Managers' Index (PMI) released by Brunswick Group, a corporate communication and public relations company in HK Wednesday.

The seasonally adjusted composite index designed to measure the overall health of the private sector economy, achieved a reading of 54.4 in May. This is the fifth consecutive month of growth and reflects an acceleration of new order books and workforce expansion.

Commenting on the survey, Ray Bashford, the partner of Brunswick Hong Kong, said," These findings from the Brunswick PMI show clearly that the rate of economic improvement is gaining momentum."

"A significant feature is that employment opportunities are increasing for the people of Hong Kong. For example, the report concludes that staffing levels increased by their fastest rate for 13 months to cope with demands from new business," Bashford added.

The Hong Kong Purchasing Managers' Index is a monthly publication, researched and published by NTC Research in association with Brunswick Group and the Chartered Institute of Purchasing and Supply Hong Kong, featuring original research data from a survey of purchasing managers in companies operating in Hong Kong.

Source: Xinhua