- Hong Kong’s GDP output moderated in the third quarter to expand by just +1.8%, following the revised +3.2% for the second quarter.
- With the seasonally adjusted number QoQ turning negative, this print showed that private consumption continues to be of concern, falling rapidly.
- Exports have been soft for Hong Kong, yet these figures are for the period prior to new policy measured announced and China’s stimulus.
- At the heart of Hong Kong’s challenges remains it’s property sector which has been in a serious decline, dragging with it consumer sentiment with retail sales declining for the last six months.
HONG KONG: GDP Growth at Weakest Levels in over a Year.
Last updated at:Oct-31 23:26By: Jamie Grant
Hong Kong
- Hong Kong’s GDP output moderated in the third quarter to expand by just +1.8%, following the revised +3.2% for the second quarter.
- With the seasonally adjusted number QoQ turning negative, this print showed that private consumption continues to be of concern, falling rapidly.
- Exports have been soft for Hong Kong, yet these figures are for the period prior to new policy measured announced and China’s stimulus.
- At the heart of Hong Kong’s challenges remains it’s property sector which has been in a serious decline, dragging with it consumer sentiment with retail sales declining for the last six months.
