HONG KONG, CHINA - Media OutReach - 17 November 2019 – 66 per cent of respondents from the accounting and finance sector expect Hong Kong’s economy to contract in 2020 while 73 per cent believe that the city’s competitiveness will decline, according to the latest Hong Kong Economic Survey conducted by CPA Australia.Growing anxiety about the economic outlook The rather bleak prospects for the year ahead is reflected in the two-thirds of respondents forecasting Hong Kong’s economy to contract in 2020. This represents a significant decrease in economic confidence from previous years, when only 20 per cent of respondents expected Hong Kong’s economy to contract in 2019 and 4 per cent in 2018. The most frequently selected prediction is for Hong Kong’s GDP to decline by greater than one per cent (chosen by 43 per cent of respondents). This signifies a major shift to negative sentiment from previous years where the most popular choice was for GDP to expand by 2 to 2.9 per cent in both 2018 and 2019. It comes as no surprise thus, that 73 per cent of respondents believe that the competitiveness of Hong Kong will decline in 2020, up 25 percentage points from 2019. In the jobs market,… Read full this story
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CPA Australia Survey: Two-thirds of Accounting Professionals Expect Hong Kong’s Recession to Continue into 2020 have 335 words, post on bizhub.vn at November 17, 2019. This is cached page on Talk Vietnam. If you want remove this page, please contact us.