Hong Kong cuts annual GDP forecast on global headwinds

Revised data confirm financial hub slipped into recession again

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Scores of restaurants and other businesses have closed as Hong Kong's strict COVID rules kept crowds away.  © Reuters

PAK YIU, Nikkei staff writer

HONG KONG -- Hong Kong on Friday cut its growth forecast for the year to between -0.5% and 0.5%, citing pandemic headwinds and a weakening global outlook as the city maintains strict COVID-19 restrictions that hurt the economy.

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