Hong Kong’s economy shrinks worse-than-expected 0.4 per cent in second quarter, signalling looming recession as US-China trade war and other headwinds bite squib

Hong Kong’s economy shrank a “much worse-than-expected” 0.4 per cent in the second quarter this year from the preceding quarter in revised figures that heralded a looming technical recession, according to the government on Friday.Government economist Andrew Au Sik-hung said the contraction, which was revised from the 0.3 per cent decrease revealed earlier this month, marked the weakest economic conditions since 2009.Au attributed the poor performance to the intensifying US-China trade war and…
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