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Financial News: Hong Kong PMI Climbs To 54.9 In May

Hong Kong PMI Climbs To 54.9 In May - S&P Global

06/05/2022 - 20:40:00 (RTTNews)

(RTTNews) - The private sector in Hong Kong continued to expand in May, and at a faster pace, the latest survey from S&P Global revealed on Monday with a PMI score of 54.9.

That's up from 51.7 in April and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Growth of private sector demand and output accelerated midway into the second quarter, supported by the stabilization of COVID-19 conditions and easing of restrictions. According to panelists, the distribution of consumption vouchers previously also contributed to boosting business activity in Hong Kong SAR.

Foreign demand likewise rose and for the first time in five months as the virus disruptions receded. However, new business from Mainland China continued to be affected by COVID-19 mobility restrictions.

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