Hong Kong's private sector activity expanded in May, S&P Global showed Wednesday.
The latest seasonally adjusted S&P Global Hong Kong SAR Purchasing Manager's Index stood at 50.4, compared with 48.6 in the previous month.
Output prices increased moderately in May, while new orders also rebounded, owing to more demand for companies' goods and services in foreign markets.
Banking sector growth was the fastest among the 18 broader Asian sectors in May, with activity expanding at the strongest pace in seven months, S&P Global said in a Wednesday release.Output growth was recorded across 16 of the 18 monitored Asian sectors last month, which was unchanged from April. Only the forestry and paper products, and construction materials sectors incurred declines from April, along with lower new orders received, S&P said.New orders rose across the remaining 16 sectors last month, led by the transportation sector.Employment increased in 10 of 18 sectors, with software & services and technology equipment experiencing the strongest hiring, while insurance witnessed a cutdown in employed staff.
Vietnam's trade deficit widened to $5.21 billion in May from $3.28 billion in the previous month, according to data from the General Statistics Office published Wednesday.Exports grew 18% year on year to $46.93 billion, while imports came in at $52.14 billion, up 34% year on year.
Vietnam's industrial production index (IIP) rose 8.8% year on year in May, according to Wednesday data from the country's General Statistics Office.On a month-over-month basis, the index increased 3.3%.By sector, manufacturing and processing output grew 9% year on year, while electricity production and distribution rose 8.5%.Mining output increased 6%, while water supply, waste management, and wastewater treatment activities climbed 8.7%, the data showed.