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Hong Kong's Private Sector Expansion Eases in July

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Hong Kong's private sector activity expanded at a slower pace in July, S&P Global showed on Wednesday.

The latest seasonally adjusted S&P Global Hong Kong SAR Purchasing Managers' Index stood at 51, compared with 52 in the previous month.

Output rose at the fastest pace in five months, while new orders increased for a third consecutive month, albeit at a slower rate as external demand stagnated.

Firms also cut employment at the fastest pace in three years amid cost-saving efforts, while softer inflationary pressures helped keep increases in input costs and selling prices more subdued.

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