Hong Kong Private Sector PMI Ticks Higher In November - S&P Global

(RTTNews) - The private sector in Hong Kong continued to expand in November, and at a slightly faster rate, the latest survey from S&P Global revealed on Wednesday with a services PMI core of 52.9.

That's up from 51.2 in October and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Private sector companies registered a second successive monthly rise in new order intakes during November. The rate of growth was the steepest since April 2023 and sharp, as stronger client confidence and new product launches had reportedly helped to boost sales in both local and international markets.

As such, incoming new business from abroad increased for the first time in just over a year, and to the greatest extent in 32 months. Demand from Mainland China also increased at a stronger rate in comparison to October that was the quickest in 28 months. Greater customer demand contributed to an accelerated rise in business activity. Furthermore, the rate of expansion was the most pronounced since March 2023.