Hong Kong: Private-sector PMI falls in August
The S&P Global Hong Kong Composite Purchasing Managers’ Index (PMI) fell to 49.4 in August from 49.5 in July. As a result, the index moved further below the 50.0 no-change threshold, and signaled a faster deterioration in private-sector operating conditions compared to the previous month.
August saw declines in overall new business, employment, inventories and output. In contrast, new business from Mainland China and abroad increased, with sales abroad up for the first time in 10 months.
Input costs and output price inflation rose in August. Finally, business sentiment remained pessimistic due to heightened competition and economic uncertainty.