A bad start to a bad year for Hong Kong business
24% of senior management in Hong Kong companies expect the business situation to worsen in the first quarter of the year.
The supposedly luck Year of the Dragon is set to inflict great pain on businesses in Hong Kong.
The gloom pervading the business community was reflected in the recently released Quarterly Business Tendency Survey report published by the Census & Statistics Department. The report noted that respondents in six of the 10 surveyed sectors have an unfavourable business outlook, particularly the transportation, storage and courier services sector.
It also revealed that 24% of senior management in Hong Kong companies expect the business situation to worsen in the first quarter of the year. Another 15%, however, expect it to improve.
The department said this is the first time an overall pessimistic business outlook has been seen since the third quarter of 2009.
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