Manufacturing remains buoyant amidst financial storm

Hong Kong - The manufacturing sector seems to be thriving in the current financial storm, with hiring expectations rising in this quarter, said a new report.

According to the Hudson Report, a survey on hiring expectations held every quarter, manufacturing companies in Hong Kong are expecting a substantial increase in expectations with 43% forecast to increase hiring in the fourth quarter, up from 35% in the previous quarter.

Much of this demand is for specific skills, particularly in the areas of quality management, logistics and international compliance, the report found.

The findings are a break away from the general gloom expected in the hiring sector across the board, with hiring expectations projected to slip from 42% to 32% in the fourth quarter.

"Expectations to hire have dropped the most in Hong Kong out of the countries surveyed and are at a five-year low," said Mark Carriban, MD of Asia at Hudson. "However, the proportion of employers who are looking to cut headcount is still low."