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Hong Kong PMI Slips To Contraction - Nikkei

Business conditions in Hong Kong swung to stagnation in January, the latest survey from Nikkei revealed on Friday with a PMI score of 49.9.

That's down from 50.3 in December, and it moves beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, firms took on more staff and increased purchasing activity, despite faster declines in output and new orders.

Overall, there was a lack of pricing power amid rising costs and weak demand.

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