A survey mirroring Hong Kong's gross domestic product growth showed a slight contraction in the economy last month after continuous but subdued expansion since February. The Hong Kong Purchasing Managers' Index, contracted to 48.7 last month from 50.3 in July. The index compiles survey data from a representative panel of Hong Kong-based companies that supply monthly information on business trends. A result of more than 50 indicates economic growth while less shows contraction, according to British-based NTC Research, which compiles the index. Orders booked contracted from a positive 52.7 in July to 48.2 last month. 'The marked weakening of total orders booked in August was blamed on faltering demand from both domestic and foreign markets,' the report said. 'Hong Kong companies mentioned that weak global economic growth had hit both business and consumer confidence and led to the postponement or cancellation of contracts.' The survey showed a continuous downward trend in employment, which fell to 48 from 48.5 in July. Bank of East Asia chief economist Paul Tang Sai-on said the index failed to show the positive side of the economy, as it mainly reflected weak domestic consumption.