Business activity in Hong Kong contracted at the fastest pace in 21 years in Nov...
HONG KONG - Business activity in Hong Kong contracted at the fastest pace in 21 years in November, dragged down by anti-government protests and softening global demand, an IHS Markit survey showed on Wednesday.
The seasonally adjusted headline Hong Kong Purchasing Manager’s Index fell to 38.5 in November, down from 39.3 in October and signaling the steepest private sector downturn since the SARS epidemic in early 2003. “The average PMI reading for October and November combined showed the economy on track to see GDP fall by over 5% in the fourth quarter, unless December brings a dramatic recovery.”
Hong Kong’s retail sales fell the most on record in October, sinking 24.3% from a year earlier, government data showed on Monday. Tourist arrivals plunged nearly 44%.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hong Kong gears up for lunchtime rallies after weekend unrestHong Kong protesters geared up for a week of lunchtime rallies on Monday, a day ...
Read more »
Hong Kong Airlines must improve financial position or risk losing license: governmentHong Kong Airlines, controlled by cash-strapped Chinese conglomerate HNA Group, ...
Read more »
China says it is banning US military visits to Hong KongChina will ban US warships and military aircraft from making stops in Hong Kong in the wake of Washington passing legislation supporting the territory's pro-democracy protesters, the country's Foreign Ministry said Monday.
Read more »
China to suspend US Navy visits to Hong Kong over new lawChina says it will suspend U.S. Navy visits to Hong Kong and sanction a range of pro-democracy groups in retaliation for Congress’ passage of legislation supporting human rights in the semi-autonomous territory.
Read more »