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HSBC Hong Kong's PMI rises to 52.2 in Nov

Dec. 6, 2012 (China Knowledge) - HSBC Holdings PLC<0005> has said Hong Kong's purchasing managers' index, a major indicator of the strength of the manufacturing sector, rose to 52.2 in November, higher than 50.5 in October, the Wall Street Journal reported.

A reading of above 50 suggests expansion, while one below 50 indicates contraction.

Donna Kwok, greater China economist at HSBC, said mainland China's demands strongly rebound last month that promotes the growth in Hong Kong's employment and wages.

The HSBC Hong Kong PMI is a composite index based on five sub indices that measure economic performance: output index, new orders index, employment index, supplier delivery index and raw material inventory index.

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