Hong Kong’s economy shrank last year for the first time since 2009, government data showed Monday, as the territory struggles with the impact of China’s virus outbreak. That followed a 2.9% decline from a year earlier in the three months ending in December. The protests have been less intense and this year’s exports might rebound, but Hong Kong “isn’t out of the woods yet,” Julian Evans-Pritchard of Capital Economics said in a report. The government said earlier Hong Kong fell into recession after activity contracted by 2.8% in the three months ending in September. “The outlook for the Hong Kong economy in 2020 is subject to high uncertainties,” the government said in a statement.

Source: thestar February 03, 2020 11:03 UTC