HK unrest contributed 2 pct points to Q3 GDP contraction-official

07-Dec-2019 Intellasia | Reuters | 6:02 AM Print This Post

Social unrest in Hong Kong contributed two percentage points to the city’s economic contraction in the third quarter, Paul Chan, financial secretary of the city’s government, told legislators in a televised hearing on Friday, citing “rough estimates”.

Hong Kong sank into recession for the first time in a decade in the third quarter, government data confirmed in November, weighed down by increasingly violent anti-government protests and the escalating US-China trade war.

The economy shrank by 3.2 percent in July-September from the previous quarter on a seasonally adjusted basis and contracted 2.9 percent from the previous year, revised government data showed.


Category: Hong Kong

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