Hong Kong 2Q GDP shrinks 9% on-year


  • Economy
  • Friday, 14 Aug 2020

HONG KONG: Hong Kong's economy shrank 9.0% in the second quarter compared with a year earlier, the government said on Friday, as the Covid-19 coronavirus pandemic continued to severely hit the city.

The second quarter's pace compares with a decline of 9.1% in the previous quarter, and an advance estimate of negative 9.0%.

On a quarterly basis, the economy contracted a seasonally adjusted 0.1% for the April-to-June period, after a revised 5.5% drop in the first quarter.

The government also revised its forecast for this year to a contraction of 6% to 8% from an earlier forecast of a 4% to 7% contraction. - Reuters

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Hong Kong , GDP , pandemic

   

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