Hong Kong Manufacturing Slows Slightly In April

Manufacturing activity slowed in Hong Kong according to the most recent Brunswick Purchasing Managers’ Index. Falling to a 52.9 in th month of April, the figure is comparably lower than the 53.4 witnessed in the month of March. Notably, output subcomponents fell to 54.3 from a 55.3 with both employment and output prices declining through previous figures. However, new orders with Mainland China seemed well supported, keeping any contraction to a minimum. Although widely disappointing, the figure still lends optimism to the underlying economy. The notion is being coupled with a continuously tight labor force that is spurring consumer spending and helping to bolster growth in the country. Incidentally, expectation remain high for a supported retail sales figure this week, scheduled for release in two days.