2023.12.0500:25:00UTC+00Hong Kong Private Sector Moves To Expansion In November - S&P Global

The private sector in Hong Kong swung to expansion in November, the latest survey from S&P Global revealed on Tuesday with a PMI score of 50.1.

That's up from 48.9 in October and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

Incoming new business remained in contraction for a fifth straight month in November, although the pace of decline decelerated and was only marginal. New business from mainland China likewise fell at a slower pace, while export conditions recorded a fresh decline.

Where lower new business was reported, survey respondents indicated that softer economic conditions, both domestically and externally, underpinned the latest fall in demand for private sector goods and services.