Financial News: Hong Kong Private Sector PMI Slips In April

Hong Kong Private Sector PMI Slips In April - S&P Global

05/05/2024 - 22:54:00 (RTTNews)

(RTTNews) - The private sector in Hong Kong continued to expand in April, although at a slower pace, the latest survey from S&P Global revealed on Monday with a services PMI score of 50.6.

That's down from 50.9 in March, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Business activity rose fractionally for the first time in three months, expanding mainly in the service sector according to sub-sector data. The growth in output was supported by businesses working through their existing orders, which led to a seventh successive monthly reduction in the level of outstanding work.

Additional workforce capacity also helped to support the latest rise in business activity and clearing of backlogs, with employment levels having risen for the third time in as many months.

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