0205 GMT [Dow Jones] HK PMI rebounds slightly to 50.8 in March vs 38-month low of 50 in February, indicating city's private sector economy improving marginally, but operating conditions remain subdued amid global credit crisis, index compiler NTC Economics says. "Growth in output (50.4 in March vs 50.2 in February) and new orders (50.7 in March vs 50.4 in February) remained sluggish due to the effects of the global credit crunch and subdued client activity. Conditions were also worsened by inflationary pressures, reflective of high raw materials prices, unfavorable exchange rates and upward wage adjustments." Notes, HK's headline inflation surges to 10-year high of 6.3% in February vs 3.2% in January, on higher food, energy prices, CNY's appreciation, HKD's weakness. (JYC)
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(END) Dow Jones Newswires
March 31, 2008 22:05 ET (02:05 GMT) |
