As Hong Kong Dives Into Recession, ‘You Can Throw Molotov Cocktails Or Have A Totally Normal Sunday’

As Hong Kong Dives Into Recession, ‘You Can Throw Molotov Cocktails Or Have A Totally Normal Sunday’

As expected, Hong Kong plunged into recession in the third quarter, but the contraction was much worse than expected. Out of the handful of economists surveyed by Bloomberg, the median estimate called for a 0.6% contraction during the period. Instead, the city's economy shrank a ghastly 3.2% QoQ, the advance estimate from the Census and Statistics Department showed on Thursday. On year, the contraction was 2.9%. Clearly, that is a disaster, although nobody expected things would be pretty.
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