Hong Kong economy suffers biggest annual contraction on record, shrinking 6.1 per cent as coronavirus hammers tourism, local spending – S. China Post

Hong Kong’s economy shrank by 6.1 per cent last year – the biggest annual contraction on record – as the coronavirus pandemic hammered key drivers of growth such as tourism and consumption.While forecasting a positive growth in 2021, advanced estimates on the city’s gross domestic product released on Friday also marked the first back-to-back yearly decline since record-keeping began in 1961, according to the Census and Statistics Department.While the slump was the same as the government’s…