The private sector in Hong Kong continued to expand in April, albeit at a slower pace, the latest survey from S&P Global showed on Thursday with a PMI score of 52.4.
That’s down from 53.5 in March, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Anecdotal evidence highlighted that the loosening of COVID-19 restrictions continued to provide a tailwind to growth in April. In particular, firms highlighted the resumption of full travel between Hong Kong SAR and Mainland China and smoother customs clearances. These factors resulted in ongoing growth of both output and new orders.
In each case, however, the rate of expansion eased to a three-month low amid some signs that growth may be settling at a lower level. Alongside rising total new orders, firms also signaled further expansions in new export orders and new business from Mainland China.
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