Hong Kong Private Sector Ebbs In December - Markit

(RTTNews) - The private sector in Hong Kong continued to expand in December, albeit at a slower rate, the latest survey from Markit Economics showed on Wednesday with a PMI score of 50.8.

That's down from 52.6 in November, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

The rates of expansion of both new orders and output eased, which led to slower buying activity growth while job shedding accelerated in December. Supply constraints persisted with worsening vendor performance and rising price pressures contributing to an increase in backlogged work. Overall business sentiment nevertheless improved in December with hopes of continued economic recovery.

Amid the sustained increase in demand and output, Hong Kong SAR private sector firms lifted their level of purchasing activity, which led to higher stocks of purchases.