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Hong Kong to Enter Recession, Most Accurate Forecaster Says

Hong Kong’s export-led economy, a barometer of global growth, is sinking into a recession that is likely to last for at least a year, said Daiwa Capital Markets economist Kevin Lai.

Of nine economists in a Bloomberg News survey, Lai came closest to predicting a 0.5 percent contraction in the city’s economy in the second quarter. Only two of the analysts expected gross domestic product to decline from the previous three months. The government released the data Aug. 12.