Financial News: Hong Kong PMI Ebbs In January - S&P

Hong Kong PMI Ebbs In January - S&P Global

(RTTNews) - The private sector in Hong Kong continued to expand in January, albeit at a slower pace, the latest survey from S&P Global revealed on Wednesday with a PMI score of 51.0.

That's down from 51.1 in December, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Business activity across the private sector economy expanded for the fourth month running, but the rate of expansion was the weakest seen over this period. Wholesale & retail was the best performing segment in January, while sharp declines in manufacturing production and construction output acted as a brake on overall growth.

New orders increased only marginally in January, with the rate of growth remaining much softer than the 18-month peak seen last October. Survey respondents mostly cited subdued business and consumer spending. New business from Mainland China decreased to the greatest extent since April 2022. Export sales meanwhile fell for the third month running and at the fastest pace since September 2024.

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