HK second quarter GDP shrinks 9pct year-on-year, full-year outlook downgraded

15-Aug-2020 Intellasia | Reuters | 6:02 AM Print This Post

Hong Kong’s economy shrank 9.0 percent in the second quarter compared with a year earlier, the government said on Friday, as the coronavirus pandemic continued to severely hit the city.

The second quarter’s pace compares with a decline of 9.1 percent in the previous quarter, and an advance estimate of negative 9.0%.

On a quarterly basis, the economy contracted a seasonally adjusted 0.1 percent for the April-to-June period, after a revised 5.5 percent drop in the first quarter.

The government also revised its forecast for this year to a contraction of 6 percent to 8 percent from an earlier forecast of a 4 percent to 7 percent contraction.

https://www.reuters.com/article/us-hongkong-economy-gdp/hong-kong-second-quarter-gdp-shrinks-9-year-on-year-full-year-outlook-downgraded-idUSKCN25A12X

 


Category: Hong Kong

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