Hong Kong economy shrinks record 8.9 percent in first quarter

om political unrest and trade war woes.

Advance figures released Monday showed an 8.9 percent on-year contraction in the first quarter -- the worst decline since the government began compiling data in 1974. The figures were worse than most projections, even though the city has made impressive headway against the coronavirus outbreak. Officials are beginning to ease some social distancing measures, in a move that will boost the local economy.

There is also little sign of an end to the political uncertainty hanging over Hong Kong in the aftermath of last year's civil unrest.

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