Hong Kong Sees Strong Rebound as PMI Surges to Decade High

(Bloomberg) — Hong Kong’s private sector expanded in May at the fastest pace in more than a decade as the city continues to recover from its deep, Covid-fueled economic slump. 

The S&P Global Purchasing Managers’ Index rose to 54.9 in May, up from 51.7 in April and the sharpest rate of growth since March 2011. A reading above 50 signals expansion, while anything below indicates contraction.