HONG KONG -- Hong Kong's economy shrank by 3.5% in 2022 as the financial hub grappled with its worst virus outbreak and strict COVID curbs that hurt growth as a weak global outlook aggravated the downturn.
The drop was bigger than a government forecast for a 3.2% contraction, which had already been revised down twice since May, as a slump in exports worsened the situation while property prices tumbled.
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