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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
Hong KongHong Kong Markit PMI fell to 51.7 in September 2021
FMPMonthlyReleased October 2021
Hong Kong Markit PMI fell to 51.7 in September 2021, released October 2021, down 1.6 from August's 53.3 reading. The reading matched the 52.3 consensus. Year-over-year, the indicator is up 4. Over the past 3 months, Markit PMI averaged 52.63, vs 51.13 in the prior 3-month window. The reading is in the 89th percentile of the trailing 24-month range.
Latest Release
51.7
Actual
52.3
Consensus
53.3
Previous
Median Absolute Error
±3.13
across last 8 releases
Last Call
Oct 2021
Predicted: 52.3
Actual: 51.7
Error: +0.6
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| USD/JPY | ▼ Inverse | −0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Markit PMI (Hong Kong) was reported at 42.90 in March 2022. The reading fell from the previous value of 48.90.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 47.53, down from the prior three at 51.70.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with BTC/USD (Watch). A secondary relationship exists with USD/JPY, negatively correlated (Watch). Over the last 8 releases, the Sigmacast model's median absolute error is 3.13.
Auto-generated from current model state · Refreshes on each release · Last update March 2022.
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Markit PMI - HK
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About Markit PMI — Hong Kong
DEFINITION
Markit PMI (Purchasing Managers' Index) is a leading economic indicator that measures the health of a country's manufacturing sector. It is based on a monthly survey of purchasing managers from various industries, providing valuable insights into business conditions, production levels, new orders, and employment trends. A reading above 50 indicates expansion in the sector, while a reading below 50 indicates contraction. Markit PMI is widely used by investors, policymakers, and businesses to assess the overall economic outlook and make informed decisions.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Feb 2022): actual 42.9. Prior reading (Jan 2022): 48.9. Before that (Dec 2021): 50.8.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a lower reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection.