self-confidence in first
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- Le 31/01/2019
US-China trade war, slowing world-wide expansion weigh on Hong Kong business self-confidence in first quarter
Enterprise sentiment among little and medium-sized business people in Hong Kong fell to its lowest stage in nearly three several years, fuelled by issues around slowing global expansion and lingering trade tensions in between the US and China, according to the new study.
Self-confidence among employers for that 1st quarter dropped two.six points to forty.four on a quarter-on-quarter foundation from the Standard Chartered Hong Kong SME Main Company Index. That matched a very low set within the second quarter of 2016 and was the 2nd quarterly drop in a row.
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Even with the latest optimism within the fiscal marketplaces which the US and China would strike a deal on trade, eighty one for each cent of companies surveyed claimed they were not hopeful about negotiations concerning the world’s two biggest economies, the Hong Kong productiveness Council and Typical Chartered explained on Tuesday.
“Our study confirms that the Hong Kong economic climate is probably struggling with among the weakest starts off to some year inside of a decade. It also exhibits the slowdown is widespread in character,” Kelvin Lau, senior economist for Bigger China at Typical Chartered, explained.
“While we get comfort through the latest rebound in sentiment toward the outlook with the renminbi, along with the prospect of reopening of upcoming US-China trade negotiations, persistent headwinds from slowing world expansion should really keep weighing on nearby sentiment for for a longer time,” he explained.
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