HK sees 1 26m mainland visitors during Spring Festival chinadailyhk.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chinadailyhk.com Daily Mail and Mail on Sunday newspapers.
mentioned the tourism data for the dragon boat festival, that was pretty disappointing. 95% of pre pandemic levels, whereas in early may during the labour day holiday, we were back at 100 step so it seems like the recovery there is going to be very small step i don t think we should give up hopejust yet. they do have some stimulus measures that they could potentially roll out. the labour market isn t quite as weak as it looks if you just focus on the youth unemployment rate figures which are very high. if you look at the overall unemployment rate, it s actually slightly below its pre pandemic average. so it wouldn t take too much policy stimulus to push it down to levels that would be consistent with an acceleration in wage growth, which could generate some positive spill overs and approve some of those competent tissue. went completely throwing in the towel, but it is certainly not going to be the rates that we were use to prior to the pandemic.
The World Gold Council says 'recessions have been good for gold in the past' but notes the gold price has been rangebound and it will take a re-established link to the 10-year US TIP yield to regain any upward momentum