Financial News: Hong Kong Private Sector Expands In October -

Hong Kong Private Sector Expands In October - S&P Global

11/04/2024 - 22:16:00 (RTTNews)

(RTTNews) - The private sector in Hong Kong moved into expansion territory in October, the latest survey from S&P Global revealed on Tuesday with a PMI score of 52.2.

That's up from 50.0, which was the boom-or-bust stagnation line that separates expansion from contraction.

Central to the latest upturn in business conditions was an improvement in demand. Incoming new orders increased at the fastest pace in one-and-a-half years which survey panelists often attributed to stimulus policies in Mainland China and greater tourism interests.

New business from both Mainland China and abroad also returned to growth after declining at the end of the third quarter. Sub-sector data revealed that overall new business increased the fastest among services firms.

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