Hong Kong Private Sector Slips Into Contraction - S&P Global

(RTTNews) - The private sector in Hong Kong fell into contraction in August, the latest survey from S&P Global revealed on Thursday with a Purchasing Managers Index score of 49.5.

That's down from 51.0 in July, and it slips beneath the boom-or-bust line of 50 that separates expansion from contraction.

Private sector firms in Hong Kong lowered output for the first time since April in the latest survey period, albeit marginally. According to anecdotal evidence, lower intakes of new work and subdued domestic economic conditions had dampened business activity.

Companies indicated that overall new business also fell back into decline midway through the third quarter. The pace of contraction was moderate but marked the third time in the past six months in which sales had fallen.