Protests take a limited toll on Hong Kong's economy

The HSBC purchasing managers’ index for Hong Kong released Wednesday showed private sector activity dropping for the fourth straight month in November, though retail sales figures showed a second straight month of growth and overall retail sales rose 1.4% in October, undercutting claims that the economy was suffering because of the ongoing student-led pro-democracy protest movement, The Financial Times reported. “I just don’t find sufficient evidence that it affects people’s sentiment,” said economist Raymond Yeung at ANZ, adding that the mainland’s anti-graft drive has been the more important factor in explaining Hong Kong’s weak retail environment this year.