Hong Kong's private sector business conditions and sentiment stayed in contractionary territory in April as demand from mainland China and other countries fell sharply.
The S&P Global Hong Kong SAR Purchasing Managers' Index remained at 48.3 in April compared with March, continuing a downward trend.
The figure was the joint-lowest since June 2024, indicating deteriorating business conditions in each of the last three months, according to S&P.
Output dropped for a second time in three months, while new orders declined at a most pronounced rate since June 2024, due to the impact of US tariffs, client uncertainty, and more intense market competition.
Employment levels also slid for the third straight month in April, according to S&P.
Pessimism among Hong Kong private sector companies increased during the month to the most severe since September 2020 due to tariffs and economic weakness.
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