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Hong Kong Business Expectations in Q2 Worsen Than Previous Quarter

-- The proportion of respondents expecting Hong Kong's business situation to improve in the second quarter remained unchanged from the first quarter at 11%, the city's census and statistics department said Friday.

Pessimism rose, with 16% of respondents expecting a worse business situation in the second quarter compared with 14% in the first quarter.

Respondents from the accommodation and food services sector foresee a worse business situation in the second quarter compared with the first quarter, the department said.

Employment is seen to decrease on balance or remain broadly unchanged, with declines expected in the accommodation and food services and information and communications sectors .

Looking ahead, a government spokesperson said near-term business outlook among large enterprises turned "somewhat more cautious" amid the prevailing geopolitical situation in the Middle East.

The spokesperson said the conflict in the Middle East remains a "key source of external uncertainty" for businesses and the government was mitigating a rise in fuel prices with short-term targeted measures.

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