The private sector in Hong Kong continued to expand in April, albeit at a slower pace, the latest survey from Markit Economics showed on Wednesday with a services PMI score of 50.3.
That’s down from 50.5 in March although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
A reduced level of COVID-19 case numbers and the loosening of restrictions contributed to improving business conditions at the start of the second quarter of the year.
Total new orders had fallen for the same length of time but stabilized during April. While the situation regarding the pandemic had shown signs of improvement, a number of firms continued to be negatively impacted, preventing more pronounced expansions in output and new orders.
The material has been provided by InstaForex Company – www.instaforex.com