Hong Kong’s Q1 GDP shrinks 4% y/y By Reuters

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© Reuters. FILE PHOTO: A general view of skyline buildings, in Hong Kong, China July 13, 2021. REUTERS/Tyrone Siu

HONG KONG (Reuters) – Hong Kong’s economy shrank 4% in the first quarter from the same period a year earlier, government data showed on Friday, ending four quarters of recovery as the city imposed its most stringent measures to curb an outbreak of COVID-19.

The data compares with a growth of 4.7% in the fourth quarter. On a quarterly basis, the economy contracted by a revised seasonally adjusted 3% for the January-March period.

(This story refiles to link to alerts, add dropped % in headline)

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