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S&P Global HKSAR PMI Stays at 48.3 in Apr; Biz Environment Remains Feeble
The seasonally adjusted S&P Global HKSAR PMI remained intact MoM at 48.3 in April, matching the lowest level since July 2024. Business conditions deteriorated MoM for the past ...
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S&P Global HKSAR PMI Stays at 48.3 in Apr; Biz Environment Remains Feeble
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The seasonally adjusted S&P Global HKSAR PMI remained intact MoM at 48.3 in April, matching the lowest level since July 2024. Business conditions deteriorated MoM for the past three months. All five major PMI components - output, new orders, employment, supplier delivery times, and input inventories - negatively impacted the April PMI.

During the month, new order volumes saw the steepest decline since July 2024, while export orders recorded the worst drop since April 2022. Demand from mainland China remained weak, though the decline narrowed compared to March.

Survey data highlighted U.S. tariffs, client uncertainty, and intensifying market competition as factors hindering sales. Private sector firms scaled back production for the second time in three months, though the decline in April was modest. Industry data showed the wholesale and retail sectors experienced the most evident contraction in April.

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