Hong Kong Likely To Suffer Economy Recession
Quarter as political worries and the coronavirus pandemic expand the city’s first recession in a decade.
A recovery after suffering repeated setbacks within the past year.
The U.S.-China trade war and anti-government protests first pushed the town to recession in the second half of 2019.
The city’s unemployment rate has surged to a 15-year high, Commodities leaks, and this figure summarizes the sharp contraction of tourism and the event business.
As the case numbers grow in July and the government starts to tighten, the outlook for Q3 remains very ambitious. Another quarter of negative growth is extremely probable.
The near-term prognosis for national economic activity, the government said in the discharge.
Quarter according to a progress reading from the Census and Statistics Department Hong Kong.
Restrictions on the restaurant industry and limiting public gatherings to two individuals.
On a quarter-to-quarter seasonally adjusted basis, the economy contracted 0.1% in the three months to June.
Hong Kong’s economy shows signs of Leaving thousands jobless and the city’s poor even more vulnerable.
Retail sales had a fall again in June, according to predictions of information Thursday.