The private sector in Hong Kong continued to expand in November, and at a faster pace, the latest survey from Markit Economics showed on Friday with a PMI score of 52.6.
That’s up from 50.8 in October, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
This represented a tenth successive month in which the Hong Kong SAR private sector expanded and at the fastest pace since August.
Demand and output expansions both picked up their paces in November, rising at the fastest rates in three months. With the COVID-19 situation under control in Hong Kong SAR, market confidence was seen improving, driving the rise in demand and thereby output.
External demand, both from Mainland China and more generally abroad, remained weak, however, shrinking at faster rates in November.
The material has been provided by InstaForex Company – www.instaforex.com