Hong Kong Cuts GDP Growth Forecast Amid Unrest

Caixin Global | Aug 15, 2019 at 8:32 PM
  • Hong Kong’s government slashed its 2019 growth forecast on Thursday and announced a HK$19.1 billion ($2.44 billion) package of measures to support the economy as the special administrative region (SAR) faces threats from the impact of a global slowdown, the U.S.-China trade war and mass protests.
  • On a quarter-on-quarter basis, the economy contracted.
  • Hong Kong’s exports have contracted this year, falling 5.4% year-on-year in the second quarter after a 3.7% contraction in the previous three months.