The Hong Kong Trade Development Council (HKTDC) has recently released the HKTDC Export Index, stating the generally improving exporter’s confidence in the first quarter of 2014, with the HKTDC Export Index rebounding to 48.1 from 38.5 in the fourth quarter of 2013. The index for jewellery industry turned well from 38 in Q4 2013 to 48.5 in Q1 2014. However, the report stated a reading below 50 still indicates a pessimistic sentiment and signals a quarter-to-quarter contraction of Hong Kong’s exports.
The Trade Value Index for jewellery industry improved slightly from 52.9 in Q4 2013 to 57.4 in Q1 2014, hinting at higher unit prices in general in the near term. According to the report, the overall procurement sentiment remained positive, which may signal a rise in input costs or an optimistic outlook over the long term. The index for jewellery industry remains stable in Q1 2014, with only a slight decrease of 0.9 from Q4 2013.
Last, the Employment Index is also released with the only reading for jewellery industry being over 50. It is expected that the jewellery industry would undergo labour expansion over the short term while other industries such as timepieces and toys, with the lowest reading, may experience labour contraction.
The HKTDC Export Index monitors current export performance of Hong Kong traders and gauges their near-term prospects in different major industries.
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