Hong-Kong - BIP-Wachstum

The Hong Kong economy shrank 3.2 percent quarter-on-quarter in the three months to September 2019, following an upwardly revised 0.5 percent contraction in the previous period, entering to a technical recession, an advance estimate showed. The country has fallen into recession for the first time since the global financial crisis in 2009, after five months of violent unrest due to a now withdrawn extradition bill. The government announced relief measures of HK$2 billion to stimulate the economy, particularly in transport, tourism and retail industries, as protests hit private consumption and investment. Year-on-year, the GDP shrank 2.9 percent, after expanding a downwardly revised 0.4 percent in Q2, recording the first yearly economic contraction since the third quarter of 2009.