Tags: APFN | AS | Hong Kong | Protests | Recession

Hong Kong in Recession as Protests Slam Retailers, Tourism

Thursday, 31 October 2019 05:38 AM EDT

HONG KONG (AP) — Business has plunged in Hong Kong's shopping districts after more than four months of protests.

The government announced Thursday that the city is in a technical recession after it contracted for a second straight quarter.

The once-common lines of Chinese shoppers outside luxury stores are gone.

Jewelry stores have no customers, and a tailor is dipping into his own pockets to pay his shop's staff.

Related businesses like transportation are also languishing.

The outlook is for the economy to shrink in 2019, with no end to the turmoil in sight.

At times, the protests have crippled major infrastructure, shutting down the airport, subways, main roads and tunnels.

Hong Kong's government-owned rail operator, MTR, has been stopping evening subway service hours earlier than usual — further reducing consumer spending.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Business has plunged in Hong Kong's shopping districts after more than four months of protests.The government announced Thursday that the city is in a technical recession after it contracted for a second straight quarter.The once-common lines of Chinese shoppers outside...
APFN,AS,Hong Kong,Protests,Recession
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2019-38-31
Thursday, 31 October 2019 05:38 AM
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