Hong Kong Economic Slump Deepens as Outbreak Across Mainland Hits Output

(Bloomberg) — Hong Kong’s private-sector economic activity slid further into contraction in March as lockdowns in the Chinese mainland added more pressure to businesses already under strain.

The S&P Global purchasing managers’ index fell to 42 in March from 42.9 in February, as the gauge continued to fall to levels not seen since April 2020. It was also the third consecutive month that the index was below 50, the level separating expansion from contraction.