Hong Kong private sector growth moderated in March as expansion in new orders and output slowed, a survey by Markit Economics revealed Thursday.
The HSBC Hong Kong purchasing managers' index, a composite index assessing prevailing business conditions in the private sector economy, fell to 52 in March from 52.8 in February. However, a PMI reading above 50 indicates expansion of the sector.
Output and new orders both increased over the month, with firms generally citing greater client demand. Nonetheless, the pace of growth eased since February. The expansion in new business the weakest in 2012 so far.
At the same time, new work intakes from Mainland China increased for the second month running in March, albeit marginally. Private sector employment increased during the month, the report said.
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