The private sector in Hong Kong continued to expand in June, albeit at a slower pace, the latest survey from S&P Global showed on Wednesday with a PMI score of 52.4.
That’s down from 54.9 in May, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
The latest headline reading signaled a third consecutive month in which the PMI has printed above the 50.0 neutral threshold, to indicate a further improvement in the health of the sector. That said, overall private sector growth eased from May.
June data indicated a third consecutive month of expansion in output amid looser pandemic restrictions. However, the rate of growth eased markedly from May amid reports of lingering COVID-19 impacts.
Contributing to the slower upturn in activity, order book volumes increased for a third successive month but at a slower rate than in May. Softer growth reportedly stemmed from the longer-term effects of COVID-19.
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