Hong Kong GDP YoY Advance || -4.2% (Forecast -2.9%, Previous -4.5%)
Well - that is f*cking terrible data.. HA!
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, DBS, Hang Seng 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.
