The private sector in Hong Kong continued to expand in September, albeit at a slower pace, the latest survey from Markit Economics revealed on Wednesday with a PMI score of 51.7.
That’s down from 53.3, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
A stable COVID-19 situation enabled business conditions to continue improving, driving higher demand and output in September. Anecdotal evidence suggested that the distribution of consumption vouchers also had a positive effect on new orders.
Foreign demand however remained weak in September. New business from abroad, including China, declined for a fourth consecutive month and at rates faster than August. Survey respondents highlighted continued COVID-19 disruptions upon foreign trading partners affecting incoming new business from abroad.
The material has been provided by InstaForex Company – www.instaforex.com