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Financial News: Hong Kong Private Sector Returns To Growth In

Hong Kong Private Sector Returns To Growth In April - S&P

05/04/2022 - 20:41:00 (RTTNews)

(RTTNews) - The private sector in Hong Kong moved back into expansion territory in April, the latest survey from S&P Global showed on Thursday with a PMI score of 51.7.

That's up from 42.0 in March, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

This marked a renewal of private sector growth following three consecutive months of contraction, with the rate of improvement the sharpest since November 2021.

New orders and output in Hong Kong SAR both returned to expansion in April, supported by the receding of COVID-19 cases and easing of restrictions. According to panelists, the distribution of consumption vouchers also helped to boost business activity over April.

Foreign demand continued to fall, however. COVID-19 disruptions, including lockdowns in Mainland China, affected demand from the mainland and more broadly abroad.

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