U.K. jobless rate rises to 4.8 pct in Q3 2020, labor market likely to deteriorate further in months ahead
U.K.’s flash PMI indices indicate decline in business activity in November, composite index falls to 47.4
Hong Kong jobless rate likely to have remained at 6.1 pct in Q3 2020
The unemployment data for Hong Kong for the third quarter is set to be released tomorrow. According to a DBS Bank research report, the jobless rate is likely to have remained at 6.1 percent in the third quarter on a gradually reopening local economy.
Rules for social distancing have been partially relaxed, with in-restaurant dinning smaller than a group of 4 is resumed. Therefore, price cut is less aggressive on entering September, with contraction in CPI should have narrowed to 0.2 percent year-on-year from 0.4 percent.
“Yet, jobless rate and deflation could not ease back unless the border could be re-opened as tourist spending accounts for 30 percent of HK’s total retail sales”, added DBS Bank.