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Hong Kong in recession, weigh protests

2019-10-31T14:51:34.243Z

15.45 Hong Kong ends up in a technical recession, with the economy collapsing by 3.2% on a quarterly basis in the third quarter of 2019, after -0.5% in the April-June quarter. The strong anti-government protests that have been going on for almost 5 months weigh negatively. GDP fell by 2.9% year-on-year, after a + 0.4% rise in the previous quarter. This is the first downward trend since the third quarter of 2009 (-1.7%). Down private consumption and fixed investments, while government spending rises.



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October 31, 201915.45 Hong Kong ends up in a technical recession, with the economy collapsing by 3.2% on a quarterly basis in the third quarter of 2019, after -0.5% in the April-June quarter. The strong anti-government protests that have been going on for almost 5 months weigh negatively. GDP fell by 2.9% year-on-year, after a + 0.4% rise in the previous quarter. This is the first downward trend since the third quarter of 2009 (-1.7%). Down private consumption and fixed investments, while government spending rises.

Source: rainews

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