Bankruptcies continue rising

Number from January to May rises 9.8% to 3,864 year-on-year.

Bankruptcy orders for the same period hit 3,792, up 14.8% year-on-year. On the other hand, bankruptcy petitions for May alone also increased, or by 4.8% from April to 854. Bankruptcy orders for May slid slightly by 0.30% to a total of 666.

Hong Kong’s unemployment rate dropped to3.4% from March to May from 3.5% in the previous quarter.

The economy grew a seasonally adjusted 0.2% in the first quarter ended March as against the previous three months. The government said this was due to resilient domestic demand, although weak trade in developed markets was blamed for a slower pace of growth.