Economics
Hong Kong Economy Shows First Signs of Revival Since Protests Began
- GDP rose 3% on a quarter-on-quarter basis to halt contraction
- Mainland China economy key factor in recovery, government says
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Hong Kong’s economy showed the first signs of emerging from a crippling recession sparked by political unrest last year and deepened by the global pandemic.
Gross domestic product declined 3.4% in the third quarter from a year earlier, the government said in a statement Friday, better than the median estimate of a 5.6% contraction in a Bloomberg survey of economists. On a quarter-on-quarter basis, GDP rose 3%.