Advertisement
Hong Kong Private Sector Ticks Higher In July - S&P Global
(RTTNews) - The private sector in Hong Kong continued to contract in July, albeit at a slower pace, the latest survey from S&P Global revealed on Tuesday with a services PMI score of 49.2.
That's up from 47.8 in June, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
A key factor keeping the headline index below the neutral 50.0 level was a sustained reduction in new orders during July. Total new business fell for the sixth month in a row, though only modestly, as weaker domestic and global economic conditions weighed on sales in local and international markets.
As such, incoming new business from abroad and Mainland China continued to fall sharply in the latest survey period, with the respective rates of decline little-changed from June. In line with the trend seen for overall new business, output fell at a softer and modest pace in July.
Hong Kong Budget Focuses On Spending Cuts, Promoting AI
Hong Kong PMI Ebbs In January - S&P Global
Hong Kong Private Sector Ebbs In December - S&P Global
Hong Kong Private Sector Ebbs In November
Hong Kong Private Sector Expands In October - S&P Global
Hong Kong Private Sector PMI Falls To 49.4 - S&P Global
Hong Kong Private Sector PMI Ticks Higher In July - S&P Global
