Standard & Poor's global Hong Kong PMI remained at 48.3 in April, business confidence fell to the worst level in about four and a half years.

According to the Wise Money Financial APP, the seasonally adjusted global Hong Kong purchasing managers index (PMI) remained flat in April at 48.3, the lowest value since July last year. The private economy in Hong Kong has continued to deteriorate, but the contraction rate is moderate. Looking at the five sub-indices of output, new orders, employment, supplier delivery times, and inventory levels, all of them had a negative impact on the PMI value in April.