Hong Kong's economy records worst contraction since 2020

HONG KONG – Hong Kong's economy recorded its worst contraction in more than two years as the financial hub's recovery was stymied by weak global demand, China's continued Covid-19 curbs and a slow reopening from years of pandemic isolation. Gross domestic product plunged 4.5 per cent in the July-to-September period from a year earlier, according to advance estimates released by the government on Monday. That was far weaker than economists' forecasts for a 0.8 per cent decline, and worse than the second quarter's 1.3 per cent fall. It was also the third consecutive quarter of contraction, and the worst decline…