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© Reuters. An aerial view shows containers and ships at the Kwai Chung Container Terminal in Hong Kong, China June 7, 2021. Picture taken June 7, 2021 with a drone. REUTERS/Aleksander Solum/Files
HONG KONG (Reuters) – Hong Kong’s economy contracted by 4.2% in the fourth quarter from a year earlier, advance government data showed on Wednesday, shrinking for the fourth consecutive quarter as exports were hampered by weak global demand.
Economists from Morgan Stanley (NYSE:), DBS, Bank and Natixis expected GDP to contract between 2.8% and 3.1%. The city’s economy shrank a revised 4.6% in the third quarter.
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