Home Business News Hong Kong economy falls over recession fears

Hong Kong economy falls over recession fears

by Mark Fitt Political Journalist
16th Aug 19 11:52 am

The Chinese government revealed on Friday that Hong Kong’s economy grew less than 0.5%, less than expected for the second quarter.

In the wake of political unrest in Hong Kong, the government said they are to slash the full year forecast to a range of 0 to 1% compared to the anticipated 2 to 3%.

Growing tensions between the US and China trade war and the unrest in Hong Kong’s financial hub the last three months has sparked fears it could fall into a recession.

The political unrest has severely damaged tourism, retail sales and a stock market that is taking heavy losses adding to China’s economic slowdown.

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