Hong Kong’s private sector experienced its most severe downturn since the Sars epidemic in 2003 in November, according to a private survey, in the latest indication of the heavy toll that political unrest and trade tensions is taking on the territory.
The IHS Markit Hong Kong purchasing managers’ index fell to 38.5 from 39.3 in October in the worst deterioration since April 2003 — the height of the severe acute respiratory syndrome outbreak that killed nearly 300 people in the territory. A survey reading above 50 would indicate expansion, anything below that shows contraction.
IHS Markit also measures business activity, which it said had notched the steepest decline since the survey began.
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