Private sector activity in Hong Kong continued to contract in May, albeit at a slower rate, the latest survey from IHS Markit revealed on Wednesday with a PMI score of 43.9.
That’s up from 36.9 in April, although it remains beneath the boom-or- bust line of 50 that separates expansion from contraction.
Individually, output and new orders fell at their slowest rates since January.
Job shedding eased, although [business][1] sentiment remained historically weak.
Facing lower sales and increased spare capacity, firms reduced their purchasing activity, inventories and staff numbers further in May.
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