Confidence rising among Hong Kong's small and medium-sized firms
Confidence among Hong Kong's small and medium-sized enterprises is improving but investment sentiment has fallen for two consecutive quarters, a new survey for the Hong Kong Productivity Council shows.
Confidence among Hong Kong's small and medium-sized enterprises is improving but investment sentiment has fallen for two consecutive quarters, a new survey for the Hong Kong Productivity Council shows.
The Standard Chartered SME Index has edged up 0.5 point to 51.3 in the outlook for the third quarter, the third successive quarter it has been above 50. A reading above 50 indicates a positive outlook.
SMEs’ worries over the global economy are fading
The global economy sub-index, which tracks SMEs' outlook on the world, jumped four points to a record high of 46.9.
The survey, sponsored by Standard Chartered Hong Kong, interviewed more than 800 local SMEs in June.
Although the business outlook has improved, the investment sentiment turned more cautious. The investment sub-index fell 3.5 points to 53.1 for the third quarter.
Investment sentiment in all three major sectors - manufacturing, export-import and wholesale, and retail - declined. Only 13 per cent of the manufacturers interviewed said they plan to increase investments, a significant drop from 21 per cent in the last quarter.