HONG KONG (Reuters) – Hong Kong’s economy contracted by 4.5% in the third quarter from a year earlier, advance government data showed on Monday, shrinking for the third consecutive quarter as trade performance remained weak.
The outcome was worse than a range of 0.6% to 0.9% growth projected by HSBC, Morgan Stanley and Natixis, and a 0.3% contraction forecast by Barclays. The city’s economy shrank by 4.0% and 1.3% respectively in the first and second quarter.
(Reporting by Twinnie Siu and Donny Kwok; Editing by William Maclean)
