Hong Kong economy shrank 1.2 per cent in 2019, plunges into recession
The financial hub's gross domestic product shrank 1.2 percent on-year, official data showed, while the fourth quarter saw a 2.9 percent contraction.
Published: 03rd February 2020 03:03 PM | Last Updated: 03rd February 2020 03:03 PM | A+A A-
Police arrive on a street laid with bricks by protesters in Hong Kong. (Photo| AP)
HONG KONG: Hong Kong on Monday confirmed its economy plunged into recession in 2019 -- the first annual contraction in a decade -- as the city buckled under the twin pressures of the US-China trade war and months of furious pro-democracy protests.
The financial hub's gross domestic product shrank 1.2 per cent on-year, official data showed, while the fourth quarter saw a 2.9 per cent contraction.
