Hong Kong sees first-quarter GDP contract 4%, downgrades economic forecast for 2022
Hong Kong's gross domestic product (GDP) shrank 4 percent year on year in the first quarter, said official data on Friday, as the epidemic wave weighed on economic activities.
Given the worse-than-expected performance in the first three months of 2022, the government of Hong Kong Special Administrative Region has downgraded its full-year GDP growth forecast from 2-3.5 percent to 1-2 percent, according to a press release. Read More...