October 13, 2023

The Census and Statistics Department (C&SD) released the results of the Monthly Survey on Business Situation of Small and Medium-sized Enterprises (SMEs) for September 2023.

The current diffusion index (DI) on business receipts amongst SMEs increased from 43.8 in August 2023 in the contractionary zone to 45.5 in September 2023, whereas the one-month’s ahead (i.e. October 2023) outlook DI on business receipts was 49.1. Analysed by sector, the current DIs on business receipts for many surveyed sectors rose by varying degrees in September 2023 as compared with previous month, particularly for the import and export trades (from 43.9 to 48.0) and wholesale trade (from 41.0 to 44.9).

The current DI on new orders for the import and export trades increased from 45.3 in August 2023 to 48.0 in September 2023, whereas the outlook DI on new orders in one month’s time (i.e. October 2023) was 49.7.

Commentary

A Government spokesman said that overall business sentiment among SMEs saw some improvement in September, with increases in the current diffusion indices for most surveyed sectors. Expectations on the business situation in one month’s time also turned better. The overall employment situation stayed broadly stable.

Looking forward, the spokesman said that while continued growth of consumption- and tourism-related activities and the Government’s various measures to boost the momentum of the recovery should provide support, the difficult external environment and tight financial conditions will continue to dampen business sentiment. The Government will monitor the situation closely.

Source: Census and Statistics Department Hong Kong
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