Hong Kong PMI Improves In October - S&P Global

(RTTNews) - The private sector in Hong Kong continued to expand in October, and at a faster rate, the latest survey from S&P Global revealed on Wednesday with a PMI score of 51.2.

That's up from 50.4 in September and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

New order inflows across the private sector economy increased for the first time in nine months during October. According to panel members, improved client confidence and firmer demand across local markets and Mainland China had boosted sales. In fact, new orders from Mainland China expanded for the first time in a year.

This helped to offset weaker demand across international markets, as new export orders continued to decline amid reports of relatively muted global economic conditions and the impact of US trade tariffs. Higher overall sales led to a sustained upturn in output, with the rate of growth reaching a one-year high.