Hong Kong massive protests take its toll, leaving HK economy hurt

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Hong Kong's economy continues to take the downward spiral path as the demonstration in the city gets worse. The US-China trade war is not helping Hong Kong’s cause as it contributes to its slumping economy as of late.

Hong Kong’s second quarter GDP decreased by 0.3% in comparison to its first quarter posting as released on Wednesday. Analysts concluded that the economic slump is due to sluggish Asian manufacturing and trading and low investments caused by trade war fears.

Now in its eighth week, the massive protests continue to build tension in the city, hurting its local tourism and retail sales.

In effect, economists say, that Hong Kong’s GDP performance is expected to go down even more in the third quarter.

Nonetheless, the Hong Kong economy will continue to suffer if protesters persist.

 

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