New virus outbreak dashes hopes for quick Hong Kong economic recovery – ZAWYA

New virus outbreak dashes hopes for quick Hong Kong economic recovery – ZAWYA

New virus outbreak dashes hopes for quick Hong Kong economic recovery Govt says surge in COVID-19 cases clouds near-term outlook    HONG KONG - Hong Kong's long recession showed some signs of easing in the second quarter as coronavirus restrictions were lifted, but a quick recovery is now in doubt as a fresh wave of infections prompt the government to impose tough new health measures.The economy contracted 9.0% in April-June from a year earlier, shrinking for the fourth quarter in a row and the second biggest drop on record, government advance estimates showed on Wednesday.But activity picked up markedly from a slump early in the year as anti-virus measures were gradually relaxed and people returned to offices and stores. Gross domestic product (GDP) eased just 0.1% from the first quarter, compared with a revised 5.5% drop in the previous three months.The economy contracted 9.0% in April-June from a year earlier, shrinking for the fourth quarter in a row and the second biggest drop on record, government advance estimates showed on Wednesday.HONG KONG - Hong Kong's long recession showed some signs of easing in the second quarter as coronavirus restrictions were lifted, but a quick recovery is now in doubt as