Activity in Hong Kong’s private sector fell to a fresh decade-low in August as the escalating trade war and political demonstrations hit demand.
The IHS Markit Hong Kong purchasing managers’ index, which tracks private sector activity in the Asian financial hub, fell to 40.8 in August, down from 43.8 in the previous month, dragging the reading even further below the 50-point level separating contraction and expansion. That was the lowest since early 2009.
New orders fell at the steepest rate in a decade as orders from China dropped at a record rate, the survey found.
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