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Financial News: Hong Kong Private Sector Slows In October -

Hong Kong Private Sector Slows In October - Markit

11/02/2021 - 20:40:00 (RTTNews)

(RTTNews) - The private sector in Hong Kong continued to expand in October, albeit at a slower pace, the latest survey from Markit Economics revealed on Wednesday with a PMI score of 50.8.

That's down from 51.7, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

This represented a ninth successive month in which the Hong Kong SAR private sector registered better business conditions, though the rate of growth slipped to a six-month low.

New orders and output continued to expand in October with COVID-19 conditions well under control in Hong Kong SAR. That said, the paces of growth eased from September with anecdotal evidence suggesting some weather disruptions underpinning the slowdown.

External demand however continued to decline both from Mainland China and more generally abroad. Persistent COVID-19 disruptions were blamed by panelists for the lower new orders received from outside of the Hong Kong SAR.

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