Hong Kong Private Sector Moves To Expansion In November - S&P Global

RTTNews | 164 days ago
Stocktwits
Hong Kong Private Sector Moves To Expansion In November - S&P Global

(RTTNews) - The private sector in Hong Kong swung to expansion in November, the latest survey from S&P Global revealed on Tuesday with a PMI score of 50.1.

That's up from 48.9 in October and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

Incoming new business remained in contraction for a fifth straight month in November, although the pace of decline decelerated and was only marginal. New business from mainland China likewise fell at a slower pace, while export conditions recorded a fresh decline.

Where lower new business was reported, survey respondents indicated that softer economic conditions, both domestically and externally, underpinned the latest fall in demand for private sector goods and services.

Tags: HKD
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Hong Kong Scraps Property Curbs; Lifts Tax On High Income Earners

Hong Kong Scraps Property Curbs; Lifts Tax On High Income Earners

Hong Kong Financial Secretary Paul Chan on Wednesday scrapped measures intended to cool the property market, and raised the tax on high income earners to plug the hole in the budget. In the Budget Speech, Chan estimated economic growth of 2.5- 3.5 percent in 2024 after posting an expansion of 3.2 percent in 2023.
RTTNews | 79 days ago
Hong Kong GDP Growth Improves In Q4

Hong Kong GDP Growth Improves In Q4

Hong Kong's economy expanded at a faster pace at the end of the year largely reflecting the rebound in tourism and household consumption,the advance estimates from the Census and Statistics Department showed Wednesday. Gross domestic product registered a faster growth of 4.3 percent in the fourth quarter, following an increase of 4.1 percent a quarter ago.
RTTNews | 107 days ago
Hong Kong Central Bank Hikes Key Rate

Hong Kong Central Bank Hikes Key Rate

Hong Kong's central bank raised its benchmark rate by a quarter-point on Thursday, in tandem with the decision of the US Federal Reserve. The Hong Kong Monetary Authority adjusted the Base Rate to 5.75 percent from 5.50 percent, with immediate effect.
RTTNews | 295 days ago
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