Hong Kong has entered a ‘technical recession’ amid unrelenting protests by lisettevoytko
According to Chan, Hong Kong’s previous two quarters resulted in a decline, indicating the city is facing a “technical recession.”
Chan wrote that a preliminary estimate shows negative growth in the third quarter and that it will be “extremely difficult” to reach a target of 0 to 1% annual growth. Tourism is particularly hard hit, with a 37% drop in visitors year over year and hotel rooms only two thirds full, according to Chan. Meanwhile, retail has suffered with protesters vandalizing restaurants, banks and stores they believe to be unsupportive of their cause.into its economy for the third time in as many months, with Chan releasing $255 million to cut retailers’ rents by 50% and subsidize taxi drivers and local ferries.the city’s streets Sunday, setting shops on fire and throwing petrol bombs at police, who responded with tear gas, water cannons and rubber bullets.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Hong Kong enters recession as protests show no sign of relentingHong Kong has fallen into recession, hit by more than five months of anti-govern...
Leer más »
Hong Kong enters recession as media decry treatment of journalistsHong Kong has fallen into recession, hit by more than five months of anti-govern...
Leer más »
Hong Kong is in a technical recession as five months of protests take a tollHong Kong is headed for recession, after five months of protests have sent tourism and retail numbers plunging
Leer más »
Hong Kong enters recession after five months of protestsRetail operators, from prime shopping malls to family-run businesses, have been forced to close for multiple days over the past five months as the region has been hit with anti-government protests.
Leer más »
Hong Kong enters recession as protests again erupt in flamesHong Kong has fallen into recession, hit by five months of anti-government protests that erupted in flames at the weekend, and is unlikely to achieve any growth this year, the city's financial secretary said. More here:
Leer más »
Hong Kong protesters use skin and ink to support movementWhile groups of hardcore protesters tangling with riot police have become the movement's most visible symbol, others are using skin and ink to show their support.
Leer más »