SME business sentiment in Hong Kong improves
Business sentiment among Hong Kong’s SMEs are showing an improvement as the global economy begins its recovery trajectory, showed a survey from the Hong Kong government.
The current diffusion index (DI) — a statistical measure often used to detect economic turning points — on business income among SMEs increased from 46.6 in July to 49.0 in August this year, reports Marketing Interactive.
By sector, the DIs on business income for many sectors rose by varying degrees in August, as compared to the previous months. In retail, this rose from 44.6 to 52.4, while wholesale trade rose from 43.4 to 50.0.
The Hong Kong government attributes the improved business sentiment to the global economic recovery and the improved local COVID-19 situation, noting that business sentiment has improved for its third straight month.
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It also said that the disbursement of its second batch of e-vouchers will help support consumption-related sectors for the remaining months of the year.
In July, Hong Kong’s total number of registered local businesses reached about 1.38 million, while there were more than 56,000 newly registered local companies in 1H 2021.