India, Feb. 4 -- The private sector in Hong Kong slipped into contraction in January, the latest survey from S&P Global showed on Monday with a PMI score of 49.9.
That's down from 51.3 in December and it moves beneath the boom-or-bust line of 50 that separates expansion from contraction.
Hong Kong SAR private sector firms saw lower new business at the start of the year. This included new orders from abroad and mainland China with soft economic conditions, both domestically and externally, dampening sales. The rates at which new export orders and new business from China declined were sharper than in December, outlining a deterioration in demand conditions.
That said, private sector output continued to grow in January, albeit only marginal...