Do you think Hong Kong is in recession?

[Oldtimer]

Bloomberg story says Hong Kong entered recession during 3rd quarter.
Do you feel it? Restaurants and Bars are full.
Is it a just a blimp?

Hong Kong Entered Recession in Last Quarter, Most Accurate Forecaster Says - Bloomberg

[er2]

Sure does not feel like one. But HKs GDP strongly depends on the property sector. Half a year ago we had record levels at property prices, and I think a few days ago SCMP reported that developers were slashing prices significantly right now. This might be statistically significant enough to put HK nominally into a recession.

[100LL]

Restaurants and Bars are full.

During all my years in HK, the only time when restaurants and bars were not full was during SARS. You could go to Tsim Sha Tsui and the only 7 souls you could see far and wide tried to sell Rolex and suits to you!

I kind of liked it. The streets became normal for a while. Not overcrowded and hectic as usual.

[Char Siu King]

Restaurants and bars are full because people don't have enough space to cook at home and/or spending time in their hovels after work is depressing. It's not an economic indicator here as much as in economies where people enjoy developed world standard housing.

[DavidTC]

Bloomberg story says Hong Kong entered recession during 3rd quarter.
Do you feel it? Restaurants and Bars are full.
Is it a just a blimp?

Hong Kong Entered Recession in Last Quarter, Most Accurate Forecaster Says - Bloomberg

Yes. Batten down the hatches.

[hullexile]

Restaurants and shops are doing OK because of the mainlanders but I understand other parts of the economy are struggling.

[jaykay]

Property is one measure and apart from the ever increasing utopia of Park Island according to Randy (and which isn't just another human warehouse) the other signs are cars. Walk into Wanchai or Kowloon Bay automalls. Pretty bloody dead. And have been for a while. So things aren't so rosy on the inside.

[hullexile]

Property is one measure and apart from the ever increasing utopia of Park Island according to Randy (and which isn't just another human warehouse) the other signs are cars. Walk into Wanchai or Kowloon Bay automalls. Pretty bloody dead. And have been for a while. So things aren't so rosy on the inside.

Saw prices on PI have fallen in the last month.

[DavidTC]

Property is one measure and apart from the ever increasing utopia of Park Island according to Randy (and which isn't just another human warehouse) the other signs are cars. Walk into Wanchai or Kowloon Bay automalls. Pretty bloody dead. And have been for a while. So things aren't so rosy on the inside.

you judge by second hand cars?

[jaykay]

Second largest spend after property, and like property was boosted by sales to mainland clients in recent years. And not just "second hand". What you want to compare? Chocolate Buttons?