Hong Kong's Q2 GDP shrinks 1.4% y/y
A man rides a bicycle past residential buildings, ahead of the 25th anniversary of Hong Kong's handover to China from Britain, in Hong Kong, China May 21, 2022. Picture taken May 21, 2022. REUTERS/Tyrone Siu
HONG KONG : Hong Kong's economy contracted by 1.4 per cent in the second quarter from a year earlier, advance government data showed on Monday, with weak performance in external trade during the quarter.
The outcome was worse than the 0.6 per cent drop forecast by DBS and 0.5 per cent decline projected by Standard Chartered. The city's economy shrank by 4.0 per cent in the first quarter.
Source: Reuters
