Hong Kong on brink of recession as protests and trade war take toll
Business activity shows sharpest drop since global financial crisis amid increasingly bleak outlook for territory
Hong Kong is on the verge of a recession as its private sector activity plunged to a decade-low in August amid an escalating trade war and its worst political crisis in decades.
The business survey, released on Wednesday, noted “the steepest deterioration in the health of the private sector since February 2009”, adding that spreading pessimism had seen business confidence slump to its lowest on record.
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