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Financial News: Hong Kong's GDP Growth Revised Up

Hong Kong's GDP Growth Revised Up

05/17/2019 - 04:59:00 (RTTNews)

(RTTNews) - Hong Kong's economy expanded more than previously estimated in the first quarter, revised data from the Census and Statistics Department showed Friday. Gross domestic product grew 0.6 percent sequentially instead of 0.5 percent estimated previously. Nonetheless, this was slower than the 1.2 percent expansion seen in the fourth quarter.

On a quarterly basis, the economy grew 1.3 percent compared to previous estimate of 1.2 percent and a contraction of 0.5 percent in the previous quarter.

The real GDP growth forecast of 2-3 percent for 2019 as announced in the Budget was maintained in the current round of review. The near-term economic outlook is subject to a high level of uncertainty, the agency cautioned.

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