Financial News: Hong Kong Private Sector PMI Falls To 49.4

Hong Kong Private Sector PMI Falls To 49.4 - S&P Global

09/03/2024 - 21:53:00 (RTTNews)

(RTTNews) - The private sector in Hong Kong continued to contract in August, and at a faster pace, the latest survey from S&P Global revealed on Wednesday with a PMI score of 49.4.

That's down from 49.5 in July and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.

Business activity in the Hong Kong SAR private sector fell modestly as new orders contracted again in August. Subdued market conditions and reduced spending at clients dampened demand, with firms in the manufacturing sector experiencing the sharpest downturn.

That said, the rates of contraction for both output and new orders eased in August. Moreover, new business inflows from Mainland China and abroad both increased in the latest survey period, with the latter rising for the first time since last October.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

New York Manufacturing Index Indicates Significant Turnaround In September (05 hr(s), 19 min(s), 36 sec(s) ago)
(RTTNews) - The Federal Reserve Bank of New York released a report on Monday showing regional manu ...Full Story»

New York Manufacturing Index Unexpectedly Turns Positive In September (06 hr(s), 23 min(s), 36 sec(s) ago)
(RTTNews) - The Federal Reserve Bank of New York released a report on Monday showing regional manu ...Full Story»

Denmark Producer Prices Rise Most In 18 Months (06 hr(s), 56 min(s), 36 sec(s) ago)
(RTTNews) - Denmark's producer prices increased further and at the fastest pace in eighteen mo ...Full Story»

UK House Prices Rise On Bank Of England Rate Cut: Rightmove (07 hr(s), 32 min(s), 36 sec(s) ago)
(RTTNews) - UK house prices increased in September as the traditionally busier Autumn market start ...Full Story»

Czech Producer Price Inflation Eases To 1.1% (07 hr(s), 33 min(s), 36 sec(s) ago)
(RTTNews) - The Czech Republic's industrial producer price inflation eased in August from an 1 ...Full Story»

Eurozone Hourly Labor Cost Growth Slows In Q2 (08 hr(s), 19 min(s), 36 sec(s) ago)
(RTTNews) - Eurozone hourly labor cost growth softened in the second quarter on slower wage growth ...Full Story»

Italy Trade Surplus Grows In July (08 hr(s), 22 min(s), 36 sec(s) ago)
(RTTNews) - Italy's foreign trade surplus increased in July from a year ago as exports grew fa ...Full Story»

Eurozone Trade Surplus Rises In July (08 hr(s), 31 min(s), 36 sec(s) ago)
(RTTNews) - The euro area trade surplus increased notably in July due to the sharp rebound in expo ...Full Story»