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Aug 02, 2022 03:32 AM
ECONOMY

Hong Kong Economy Contracts Again as Global Headwinds Mount

(Bloomberg) — Hong Kong’s economy contracted for a second consecutive quarter as the financial hub faces mounting headwinds of rising interest rates and weakening global trade.

Gross domestic product declined 1.4% in the second quarter from a year earlier, according to advance government estimates released Monday, weaker than economists’ forecasts for a 0.2% decline.

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