Hong Kong PMI remains in contraction in March
TOKYO -- The Nikkei Hong Kong Purchasing Managers' Index, or PMI, for March stood at 49.9, showing Hong Kong's business conditions remained in the contraction territory for the third month in a row. February's figure was 49.6.
A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.
Output growth was reported for the first time since March 2015. However, Bernard Aw, an economist at IHS Markit, pointed "New orders continued to decline, reflecting weak client demand and casting suspicions on the sustainability of future output growth."
Aw added "Business confidence about future output remained downbeat, as companies remained concerned about slowing economic growth, high rental costs and uncertainty in the domestic political situation."
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