The S&P Global Hong Kong SAR PMI rose to 50.2 in October 2026 from 49.2 in September, moving back above the 50 no-change mark and signaling the first expansion in private-sector activity in three months. The recovery was supported by a marginal increase in new orders, ending a two-month contraction, while new business from mainland China expanded at its fastest in eight months. New export orders also rose for the second straight month, although growth slowed. Firms raised purchasing activity and input stocks, while supplier delivery times shortened for the first time in six months. Meanwhile, employment fell for a seventh month, but job cuts eased from September’s six-and-a-half-year record. Purchase cost inflation accelerated to a five-month high and one of the steepest rates in five years. Higher input and fuel costs also pushed selling prices higher. Lastly, business confidence fell to its lowest since August 2020, amid concerns about economic conditions and geopolitical tensions