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Hong Kong Sinks Into Recession as Unrest Takes a Toll

2019年10月31日 20:25 来源于 财新网
City’s GDP shrinks for the second straight quarter on weakening demand
A branch of retailer Topshop in Hong Kong's Central district on Oct. 27. Photo: VCG

Hong Kong has officially slipped into a technical recession as the city’s economy continued to deteriorate in the third quarter, according to official data released Thursday.

Hong Kong’s third-quarter gross domestic product (GDP) shrank 3.2% from the previous quarter, marking the second straight quarter of decline, according to advanced estimates released by the local government. That indicated the city’s economy has entered a technical recession, which is typically defined as two consecutive quarters of quarter-on-quarter economic contraction.

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