Coronavirus: Hong Kong’s economy slumps 8.9 per cent in worst contraction on record

Hong Kong’s economy suffered its worst performance on record, slumping 8.9 per cent year on year in the first quarter amid the coronavirus pandemic, sparking an appeal from the city’s finance chief for unity in the face of adversity.The Census and Statistics Department revealed on Monday that the year-on-year contraction in gross domestic product (GDP) worsened for the third quarter in a row.The preliminary figure was even worse than in the third quarter of 1998 when GDP tumbled 8.3 per cent,…

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