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Hong Kong economy shrank 1.2% in 2019

PTI | Hong Kong | Updated: 03-02-2020 14:36 IST | Created: 03-02-2020 14:35 IST
Hong Kong economy shrank 1.2% in 2019

Hong Kong, Feb 3 (AFP) Hong Kong on Monday confirmed its economy plunged into recession in 2019 -- the first annual contraction in a decade -- as the city buckled under the twin pressures of the US-China trade war and months of furious pro-democracy protests.

The financial hub's gross domestic product shrank 1.2 percent on-year, official data showed, while the fourth quarter saw a 2.9 percent contraction.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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