The downturn in Hong Kong's private sector softened in May, with the seasonally adjusted S&P Global Hong Kong SAR Purchasing Manager's Index (PMI) rising to 49.0 from 48.3 in April, marking the mildest deterioration in three months. Business activity declined for the second consecutive month, though the pace of contraction remained marginal and broadly in line with April. All four monitored sectors saw reduced output, with manufacturing recording the steepest drop. New orders declined at a slower pace in May compared to April, partly due to a temporary halt in US tariff hikes. Domestic demand remained weak, while export sales decreased at a slower rate, and demand from Mainland China began to stabilise. "Hong Kong SAR firms remained pessimistic regarding the year-ahead business outlook," said Economist at S&P Global Market Intelligence Usamah Bhatti. Attribution: Amwal Al Ghad English Subediting: M. S. Salama Download
