Skyeast Investment Corporation

Hong Kong's private sector growth accelerated in August, extending the period of expansion to 13 months, new survey data showed on Friday.

Markit Economics said the HSBC purchasing managers' index rose to a seasonally adjusted 52.3 from 51.3 in July. A reading above 50 indicates expansion while one below suggests contraction.

New work received by Hong Kong firms rose solidly in August, regaining momentum lost in the previous month. New orders received from mainland China also rose, although the rate of growth slowed for a fourth successive month.

Stronger activity translated to higher employment in the service sector, extending the sequence of job creation to 11 months. (Provided by RTTNews)