2023.03.0223:47:00UTC+00Hong Kong's Private Sector Picks Up Steam In February - S&P Global

The private sector in Hong Kong continued to expand in February, and at a faster pace, the latest survey from S&P Global revealed on Friday with a PMI score of 53.9.

That's up from 51.2 in January, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

The relaxation of COVID-19 measures across Mainland China and Hong Kong SAR around the turn of the year, coupled with the minimization of virus disruptions, supported another rapid expansion in new orders for goods and services from Hong Kong SAR.

The rate at which new orders increased was the fastest since January 2011, buoyed by a record expansion in international demand. The volume of new orders from Mainland China also climbed at one of the quickest rates in the survey history. In turn, this supported a rapid expansion in private sector output, the quickest in 12 years.