Hong Kong's economy contracted for the fourth straight quarter with the coronavirus pandemic weighing on household spending and investment and exports in the second quarter, official data revealed Wednesday.
Gross domestic product decreased 9 percent year-on-year after a 9.1 percent slump in the first three months of the year, according to advance estimates from the Census and Statistics Department. The economy has now shrunk for four consecutive quarters.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.