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Hong Kong Economy Shows First Signs of Revival Since Protests Began

  • GDP rose 3% on a quarter-on-quarter basis to halt contraction
  • Mainland China economy key factor in recovery, government says
Hong Kong is among other economies in Asia including Singapore and South Korea that are starting to recover from months of anti-virus measures.
Hong Kong is among other economies in Asia including Singapore and South Korea that are starting to recover from months of anti-virus measures.Photographer: Roy Liu/Bloomberg
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Hong Kong’s economy showed the first signs of emerging from a crippling recession sparked by political unrest last year and deepened by the global pandemic.

Gross domestic product declined 3.4% in the third quarter from a year earlier, the government said in a statement Friday, better than the median estimate of a 5.6% contraction in a Bloomberg survey of economists. On a quarter-on-quarter basis, GDP rose 3%.