Hong Kong Private Sector Tapers In June - S&P Global

(RTTNews) - The private sector in Hong Kong continued to expand in June, albeit at a slower pace, the latest survey from S&P Global revealed on Wednesday with a services PMI score of 50.3.

That's down from 50.6 in May, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

A slower rise in overall new orders was recorded in June, with a softer uptick in client demand and some reports of higher tourism activity leading to only a marginal rise in new business. Rates of expansion in new orders from abroad and Mainland China also decelerated and were the softest since January.

That said, the pace at which incoming new orders from Mainland China increased was solid overall and continued to be supported by the resumption of normal travel between Hong Kong SAR and mainland China.