Private sector activity in Hong Kong continued to contract in May, albeit at a slower rate, the latest survey from IHS Markit revealed on Wednesday with a PMI score of 43.9.
That’s up from 36.9 in April, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
Individually, output and new orders fell at their slowest rates since January.
Job shedding eased, although business sentiment remained historically weak.
Facing lower sales and increased spare capacity, firms reduced their purchasing activity, inventories and staff numbers further in May.