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It Begins—Hong Kong Up First On The Global Recession Front

Summary:
GDP contracted 3.2% in Q3 over the previous quarter, in line with preliminary estimates. GDP also declined in Q2, making it the first time a technical recession has been confirmed in the city since the global financial crisis in 2008/2009. Full-year GDP is expected to shrink by 1.3% in 2019.

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GDP contracted 3.2% in Q3 over the previous quarter, in line with preliminary estimates. GDP also declined in Q2, making it the first time a technical recession has been confirmed in the city since the global financial crisis in 2008/2009. Full-year GDP is expected to shrink by 1.3% in 2019.

It Begins—Hong Kong Up First On The Global Recession Front

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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