HONG KONG (AP) \u2014 Hong Kong\u2019s economy shrank by 4% compared with a year earlier in the quarter ending in March after the Chinese territory shut restaurants and\u2026<\/b>
\nHONG KONG (AP) \u2014 Hong Kong\u2019s economy shrank by 4% compared with a year earlier in the quarter ending in March after the Chinese territory shut restaurants and other businesses to fight a spike in coronavirus infections. Growth plunged from the previous quarter\u2019s 4% expansion, government data showed Tuesday. Exports of goods fell 4.5% from a year earlier while consumer spending sank 5.4%. Hong Kong closed amusement parks and imposed curbs on restaurants and other businesses in response to an outbreak that infected 1.2 million of its 7.4 million people. The government eased restrictions in late April after the outbreak appeared to fade and ended a 2-year-old ban on non-resident visitors flying into the territory. But Hong Kong faces pressure due to weak global trade and a lack of visitors from China\u2019s mainland. \u201cAlthough there are signs that activity is rebounding, we expect the recovery to prove weak,\u201d Sheana Yue of Capital Economics said in a report. Copyright \u00a9 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.<\/p>\n