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Hong Kong in Recession as Protests Slam Retailers, Tourism

Associated Press

   HONG KONG - Steps from Hong Kong's main tourist strip, Ashfaqur
   Rahman's tailor shop usually is a mainstay for tourists dropping in to
   peruse neatly stacked rolls of fabric and get measured for custom-made
   suits.

   Not anymore.

   Business has dried up since anti-government protests began in early
   June in the Asian financial center.

   On Thursday, the government said Hong Kong's economy shrank 3.2% in
   July-September from the previous quarter, pushing the city into a
   technical recession.

   That makes two straight quarters of contraction since the economy
   contracted 0.5% in April-June on a quarterly basis.

   The once-common lines of Chinese shoppers outside Hong Kong's
   glittering luxury stores are gone. Jewelry stores have no customers and
   related businesses like transportation are languishing.

   Rahman said his monthly sales have tumbled 80% from an average of
   200,000 Hong Kong dollars ($25,500) in better times.
   

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