Economic Indicators
Hong Kong’s Q2 GDP shrinks 1.4% y/y
2022.08.01 12:02
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 (Reuters) – Hong Kong’s economy contracted by 1.4% 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% drop forecast by DBS and 0.5% decline projected by Standard Chartered (OTC:SCBFF). The city’s economy shrank by 4.0% in the first quarter.
