Hong Kong’s economy contracted by 1.2% last year, as global trade turbulence and months of antigovernment protests pushed the city into its first annual recession since the depths of the global financial crisis
Hong Kong’s economy contracted by 1.2% last year, official estimates showed Monday, as global trade turbulence and months of antigovernment protests pushed the city into its first annual recession since the depths of the global financial crisis in 2009.
Hotel occupancy has sharply declined. Restaurants are struggling to attract diners. Conferences and holiday celebrations have been canceled. The government said real, or inflation-adjusted, gross domestic product shrank 2.9% year-over-year in the final quarter of last year,...
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