#!/usr/bin/perl

$rec = {
    avg_outst => pct_pf...     # BAD
    pct_pfo   => ' ',
};

##</code><code>##

C:\Perl>perl -MO=Deparse testhang.pl
$rec = {'avg_outst', 'pct_pf', '&nbsp;'};
testhang.pl syntax OK