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HK Feb S&P PMI Higher to 53.3, Highest in 3 Yrs; Biz Sentiment Improves for 7 Mths
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S&P Global announced that Hong Kong's Purchasing Managers' Index (PMI) for February, after seasonal adjustment, ascended from the previous value of 52.3 to 53.3. Business sentiment improved for seven months in a row, with the growth rate touching its peak since March 2023. Considering the effect of the Lunar New Year holiday, the seasonally adjusted Hong Kong PMI pointed to a notable expansion in business production and new orders, benefiting overall growth which accelerated compared to the first month of this year. Customer demand tended to be stable, and businesses actively procured and increased their workforce, marking the first employment growth in four months. In terms of prices, the increase in input costs slackened in February, but overall increment remained prominent. Companies were inclined to raise selling prices, passing on partial costs to customers, with the increase being the sharpest since November 2023. AASTOCKS Financial News |
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