Hong Kong’s chief executive said the territory’s economic momentum has weakened in recent months on the U.S.-China trade war and other “uncertainties” while pledging to “spare no efforts” to deal with anti-government protests that risk harming the city’s growth.

There is “no room for optimism for the second quarter and the entire year,” according to a statement from Hong Kong’s government late Tuesday that cited leader Carrie Lam’s remarks at a lunch for representatives of international and local chambers of commerce.

“Mrs. Lam also said that the disputes in society in recent months are not conducive to Hong Kong’s continued development and that she would spare no efforts to deal with them,” according to the statement. “She pointed out that everyone should continue to have confidence in the city and she firmly believes that with the concerted efforts of various sectors, Hong Kong would find opportunities amid difficulties.”

Data due Wednesday are projected to show that growth in Hong Kong was 0.9% quarter on quarter, according to a survey of five economists, in the three months through June, while figures on Thursday may indicate retail sales dropped year-on-year for a fifth month, with demonstrations and the subsequent police crackdown likely deterring shopping and tourism.

What Bloomberg’s Economists Say…

“Carrie Lam says there is ‘no room for optimism’ on 2019 growth. We agree. Four important growth drivers for the former colony are exports, tourism, finance and property. On each of them, the signs are discouraging.”