Hong Kong's Recession Eases Slightly

29 July 2020

Hong Kong's economy shrank by 9.0% in the second quarter from a year earlier, the government said on Wednesday, as the coronavirus pandemic weighed heavily on consumer spending, trade and tourism in the global financial hub.

It was the fourth consecutive quarter of contraction for the economy, which was hit hard by anti-government protests last year and more recently by the global health crisis.

The decline in gross domestic product (GDP) eased slightly from a revised 9.1% contraction in January-March, which was the worst quarterly drop since records began in 1974. (29.07.2020)

Source : Reuters
Post by  : Republic of Turkey Ministry of Trade