Hong Kong Private Sector PMI Eases To 51.3 - Markit

(RTTNews) - The private sector in Hong Kong continued to expand in July, albeit at a slower pace, the latest survey from Markit Economics revealed on Wednesday with a PMI score of 51.3.

That's down from 51.4, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

The Output and New Orders indices both expanded in July, signaling the fourth consecutive month of growth across both gauges. Rates of expansion also improved in July with panelists noting better economic and consumer confidence, given the control of the COVID-19 virus, driving the increase in activity.

Foreign demand for Hong Kong SAR private sector goods and services however eased for a second straight month and at a faster pace compared to June.