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Financial News: Hong Kong Business PMI Sinks To 11-Year Low

Hong Kong Business PMI Sinks To 11-Year Low

09/03/2019 - 20:50:00 (RTTNews)

(RTTNews) - The business climate in Hong Kong - rocked by protests throughout last month - fell deeper into contraction in August, the latest survey from HIS Markit revealed on Wednesday with a PMI score of 40.8.

That's down from 43.8 in July and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.

It's also the lowest index reading since 2008.

Individually, demand was hurt by trade wars and local protests - while business confidence checked in at its lowest reading in seven years.

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