Protests deliver a blow to Hong Kong’s economy

Hong Kong’s business conditions in October worsened the most in more than three years in part because of continuing pro-democracy protests, according to the compilers of an economic benchmark.

The Purchasing Managers’ Index for the city from HSBC Holdings and Markit Economics was at 47.7 last month, down from 49.8 in September, the sharpest decline since September 2011. A reading below 50 signals contraction.

The index signaled “a marked deterioration in operating conditions faced by private sector businesses that was widely attributed to ongoing political protests”, HSBC said in a statement.