Private sector [business][1] conditions in Hong Kong continued to worsen in August, and at a faster rate, the latest survey from IHS Markit revealed on Thursday with a PMI score of 44.0.
That’s down from 44.5 in July and it moves farther beneath the boom-or- bust line of 50 that separates expansion from contraction.
Individually, output and new orders fell as faster rates, while supply chains remained under pressure. Business expectations remained negative.
Further tightening of virus-fighting measures, including new limits on the size of public gatherings, dealt another blow to the private sector, with retail, [entertainment][2] and food establishments hit particularly hard.
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