HONG KONG (Reuters) – Hong Kong’s economy shrank 9.0% in the second quarter compared with a year earlier, the government said on Friday, as the coronavirus pandemic continued to severely hit the city.
The second quarter’s pace compares with a decline of 9.1% in the previous quarter, and an advance estimate of negative 9.0%.
On a quarterly basis, the economy contracted a seasonally adjusted 0.1% for the April-to-June period, after a revised 5.5% drop in the first quarter.
The government also revised its forecast for this year to a contraction of 6% to 8% from an earlier forecast of a 4% to 7% contraction.
(Reporting by Twinnie Siu and Donny Kwok; Editing by Jacqueline Wong)
