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Economy

Hong Kong economy on track to shrink for first time in a decade

2019 outlook downgraded to minus 1.3% growth amid protests and trade war

HONG KONG, (Reuters) -- Hong Kong sank into recession for the first time in a decade in the third quarter, government data confirmed on Friday, weighed down by increasingly violent anti-government protests and the escalating U.S.-China trade war.

The economy shrank by 3.2% in July-September from the previous quarter on a seasonally adjusted basis, revised government data showed, in line with a preliminary reading.

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