Thursday, October 23, 2014   

HK private sector expands in January, fastest in 23 months
(02-06 12:54)

The HSBC Hong Kong purchasing Managers’ Index rose to 52.7 in January from 51.2 in December, indicating that business conditions improved for Hong Kong’s private sector, the lender said. It also marked the highest score since February 2012.
The better performance came from strong expansions of output and new orders. The new business from mainland China increased fastest in over 30 months. The growth of purchasing activity reaches 34-month high. The backlogs of work increase at fastest rate in 14 months.
"The growth momentum in Hong Kong business activity looks like it will be sustained at the start of 2014. The January data indicated that output and new orders are growing at the fastest rate in nearly two years while the pace of job cuts have also moderated," said HSBC economist John Zhu.   
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