The private sector in Hong Kong continued to expand in June, albeit at a slower pace, the latest survey from Markit Economics revealed on Tuesday with a PMI score of 54.1.
That’s down from 52.5 in May, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Contributing to the lower reading were dips in both output and new orders. Although production and demand remained in growth territory, rates of expansion slowed from the more than three-year highs in May. Businesses generally saw continued improvement in economic conditions as the COVID-19 pandemic situation stabilized.