Hong Kong Exports Drop Most in Seven Decades on Global Slump

(Bloomberg) — Hong Kong’s exports plummeted in November by the most in nearly seven decades as a slump in China’s economy and global demand worsened, making the road to recovery even tougher for the financial hub.

Overseas shipments plunged 24.1% last month from a year earlier, the Census and Statistics Department said Thursday. That was the worst decline since 1954 and far more severe than the median estimate of a 16.2% decline in a Bloomberg survey of economists. Exports fell 10.4% in October.