Hong Kong’s pro-democracy street protests have taken a limited toll on the broader economy, which is under pressure from slowing Chinese growth and lower spending by tourists.
The purchasing managers' index released by HSBC on Wednesday showed that private sector activity in Hong Kong dropped for a fourth straight month in November, though the headline figure rose to 48.8 from 47.7 in October. A number below 50 indicates contraction.
While some respondents to the survey said the protests had resulted in “subdued market conditions”, other factors – such as weak demand from China – also played an important role. New business from the mainland dropped at the sharpest pace since the financial crisis, the survey showed.
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