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HK's 2019 Recession

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  1. #31

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    The seasonally adjusted headline IHS Markit Hong Kong
    Purchasing Manager’s Index™ (PMI™) fell to 39.3 in October,
    down from 41.5 in September, signalling the worst deterioration
    in the health of the private sector since November 2008.

    The headline PMI is a composite single-figure indicator of
    economic performance derived from indicators for new orders,
    output, employment, suppliers’ delivery times and stocks
    of purchases. Any figure greater than 50.0 indicates overall
    improvement of the economy.

    Not only did business activity across the private sector shrink
    further in October, but the rate of decline was the fastest since
    the survey began over 21 years ago. According to anecdotal
    evidence, protest-related disruptions continued to dampen
    economic activity, particularly in the retail and tourism sectors.
    https://www.markiteconomics.com/Publ...53137f?noembed

  2. #32

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    And restaurant receipt numbers are in ...

    The value of total receipts of the restaurants sector in the third quarter of 2019, provisionally estimated at $26.4 billion, decreased by 11.7% over a year earlier.
    A Government spokesman noted that restaurant receipts deteriorated sharply in the third quarter and registered the largest year-on-year decline since the outbreak of SARS in the second quarter of 2003.
    HK 3Q19 Restaurant Receipts Dive 11.7%, Gravest Since SARS

  3. #33

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    Quote Originally Posted by shri:
    And restaurant receipt numbers are in ...

    HK 3Q19 Restaurant Receipts Dive 11.7%, Gravest Since SARS
    Honestly, I'm surprised that it's only 12%. Must be a lot of restaurants who only take cash and not reported anyway. Would have expected something like 30%.

  4. #34

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    Quote Originally Posted by freeier:
    I really wonder, of many of us so called 'expats' working in hk, how many of us are actually working in a position that serves mainly hk clients ? i think very very few. I know i am one, but my guess is most are station in HK cos of its position in the central of the region, and most time and most businesses are actually from China.
    I think very very few of us 'expats' in HK actually work full stop. Most of us just browse geoexpat all day and do sweet f*ck all

  5. #35

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    https://twitter.com/HongKongH...80441503576064

    What I think whenever they talk about the economy...
    shri and MatthieuTofu like this.

  6. #36

  7. #37

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    Quote Originally Posted by DimSumBond:
    It is a recession.

    However, recession means different things to different people.

    I view recession as the transition from regular people being able to give their money away to the power-that-be to regular people having no money to give away as they are forced to dig-in and spend on necessities.

    Most of the world has been in this state since 2015. The low interest environment has extended the livelihoods of many people and corporations.

    The next collapse will rewrite history. The GFC was a simple pro-longing of capitalism. We are very close to the end-game now. There will be huge power shifts as a result of the end-game.
    Talk about a blast from the past.

    Looks like the necessities are prime targets for price hikes. Central bankers will price yet again that they can drive inflation.

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