The private sector in Hong Kong continued to contract in July, albeit at a slower pace, the latest survey from S&P Global revealed on Tuesday with a services PMI score of 49.2.
That's up from 47.8 in June, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
A key factor keeping the headline index below the neutral 50.0 level was a sustained reduction in new orders during July. Total new business fell for the sixth month in a row, though only modestly, as weaker domestic and global economic conditions weighed on sales in local and international markets.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.