The business confidence in Hong Kong shrank for the third consecutive period to -10 in the first quarter of 2025, down from -3 in the previous three-month period. The proportion of respondents expecting to be better was 9% (vs 13% in Q4), while those anticipating a worse business was 19% (vs 16%). Sentiment continued to deteriorate for manufacturing (-22 vs -19 in Q4), construction (-14 vs -12), import/export trade and wholesale (-15 vs -8%), retail (-31 vs -19), accommodation and food services (-36 vs -3), transportation, storage and courier services (-27 vs -1), and information and communications (-11 vs -5). Moreover, sentiment became pessimistic for both real estate (-15 vs 6) and professional and business services (-8 vs 3). Meanwhile, morale strengthened for financing and insurance (10 vs 2). source: Census and Statistics Department, Hong Kong

Business Confidence in Hong Kong decreased to -10 points in the first quarter of 2025 from -3 points in the fourth quarter of 2024. Business Confidence in Hong Kong averaged 3.99 points from 2006 until 2025, reaching an all time high of 32.00 points in the third quarter of 2006 and a record low of -53.00 points in the first quarter of 2009. This page provides - Hong Kong Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. Hong Kong Business Confidence - data, historical chart, forecasts and calendar of releases - was last updated on January of 2025.

Business Confidence in Hong Kong decreased to -10 points in the first quarter of 2025 from -3 points in the fourth quarter of 2024. Business Confidence in Hong Kong is expected to be -4.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Hong Kong Business Confidence is projected to trend around 5.00 points in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-10-25 08:30 AM
Business Confidence
Q4 -3 -1 2
2025-01-17 08:30 AM
Business Confidence
Q1 -10 -3 -4
2025-04-25 08:30 AM
Business Confidence
Q2 -10 7


Related Last Previous Unit Reference
Bankruptcies 10809.00 9796.00 Companies Nov 2024
Business Confidence -10.00 -3.00 points Mar 2025
Car Registrations 3561.00 3829.00 Units Nov 2024
Changes in Inventories 9593.00 -20477.00 HKD Million Sep 2024
Industrial Production YoY -0.10 0.70 percent Sep 2024

Hong Kong Business Confidence
In Hong Kong, the Quarterly Business Tendency Survey measures the expectations of entrepreneurs regarding changes in business situation in the current quarter compared to the previous quarter. The survey covers a sample of 560 senior managers from the main sectors of the economy: manufacturing; construction; wholesale and retail trade; accommodation and food services; transportation, storage and courier services; information and communications; financing and insurance; real estate; and professional and business services sectors. The survey result is presented as a net balance: the difference between the percentage of respondents choosing “a better outlook” and that choosing "a worse outlook". A positive sign indicates a likely upward trend while a negative sign, a likely downward trend.
Actual Previous Highest Lowest Dates Unit Frequency
-10.00 -3.00 32.00 -53.00 2006 - 2025 points Quarterly


News Stream
Hong Kong Business Morale Sinks
The business confidence in Hong Kong shrank for the third consecutive period to -10 in the first quarter of 2025, down from -3 in the previous three-month period. The proportion of respondents expecting to be better was 9% (vs 13% in Q4), while those anticipating a worse business was 19% (vs 16%). Sentiment continued to deteriorate for manufacturing (-22 vs -19 in Q4), construction (-14 vs -12), import/export trade and wholesale (-15 vs -8%), retail (-31 vs -19), accommodation and food services (-36 vs -3), transportation, storage and courier services (-27 vs -1), and information and communications (-11 vs -5). Moreover, sentiment became pessimistic for both real estate (-15 vs 6) and professional and business services (-8 vs 3). Meanwhile, morale strengthened for financing and insurance (10 vs 2).
2025-01-17
Hong Kong Business Morale Continues to Shrink
The business confidence indicator in Hong Kong came in at -3 in the fourth quarter of 2024, shrinking further from -1 in the previous three-month period. The proportion of respondents expecting to be better was 13% (vs 11% in Q3), while those anticipating a worse business was 16% (vs 12%). Sentiment deteriorated significantly for manufacturing (-19 vs -2 in Q3), import/export trade and wholesale (-8 vs -1), retail (-19 vs -16), and information and communications (-5 vs -3). Moreover, sentiment became pessimistic for accommodation and food services (-3 vs 6) while it weakened for financing and insurance (2 vs 7). Meanwhile, sentiment improved for real estate (6 vs 0).
2024-10-25
Hong Kong Business Morale Tumbles in Q3
The business confidence indicator in Hong Kong came in at -1 in the third quarter of 2024, following a +2 in the previous three-month period. The proportion of respondents expecting to be better was 11% (vs 14% in Q2), while those anticipating a worse business stood at 12%. Sentiment deteriorated for manufacturing (-2 vs 8 in Q2), transportation, and storage & courier services (-2 vs 4), and information & communications (-3 vs 1). Moreover, sentiment weakened for both accommodation & food services (6 vs 7) and financing & insurance (7 vs 19), while continued to be negative for construction (-16 vs -11). Meanwhile, sentiment became less unfavorable for import/export trade & wholesale (-1 vs -9).
2024-07-19